Nifty 1D Bear Market Technical Analysis (Distribution Phase)- Nifty is currently trading at 22,829.
- Nifty has erased 13.11% from its all-time high of 26,274.
- Ninety percent of social media outlets and broadcasters have stopped their perpetual bullish commentary on Nifty, which they claimed would never stop. The next ten years for India are expected to be very bullish, and Nifty could soon head towards 30,000 following this drop.
- Now, let's focus on understanding what we can expect from this drop and where prices may head in the upcoming days.
- Nifty is about to test the largest liquidity grab it made around 21,285. After that, we may quickly see Nifty rebalance the inefficiencies it creates during this impulsive downward move.
- The level I will be considering for my personal investment is between 18,832 and 19,000.
- The range of 18,000 to 20,000 is likely to be a very strong zone for long-term investments rather than short-term swings, as markets typically move in cycles of accumulation, manipulation, and distribution.
- To fill the gaps, the market rebalances every imbalance, taking out liquidity between candles and heading toward new lows or highs. The market seeks liquidity from Fair Value Gaps; that's how it usually moves.
- We have witnessed a bull market for 2 years now. In my opinion, we are soon going to experience a Distribution phase of 2 years filled with many manipulations and dead cat bounces. Stay cautious and don't miss discounted levels; an index correcting 30% is significant.
