Nifty: 14K Tease is On

Dec 31, 2020

7th consecutive positive daily close from the benchmark Nifty to end the year in style. In fact, this is probably the best transformation of all time, considering the way the index was back in Feb-Mar’20 - a complete turnaround. Now for psychological pleasure, the index has met the 14K mark and slipped down marginally. The rising channel on the 75min chart is very much kicking in resistances with a distinct price momentum divergence. Yeah right … so will the index correct? Well, a break below 13,950 can indeed lead to a test of 13,800. Let’s see.

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