NIFTY OUTLOOK (With this pattern I predicted the COVID CRASH)Amid the all fears of Rising crude oil prices, Fed hiking rates, Rising US treasury yields with no sign of inflation being in control or Rising Dollar index. There is no doubt that bearish sentiment has prevailed among many retail people. But one thing cannot be denied that Indian market has stayed more defensive compared to global markets.
One pattern that I have observed is after every 700 -730 days a high is formed in NIFTY. So according to the same cycle, I strongly feel indian markets may correct in healthy manner by forming a top near 1st - 2nd week of Dec 2023. Even if NIFTY falls before, it will form a pull back top at around the same time.
Using the same cycle I predicted the COVID CRASH few years back :
Link to the study:
That doesn't mean one has to buy every dips or short every top. But a profit booking on the every rise is definitely advisable. Aggressive shorts can be done only after confirmation.
CHART AND ANALYSIS
ADARSH DEY
