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Nifty 50 giving many signs for a Bearish break- Nifty 50 has been in a strong up move from several weeks and days. Everyone is expecting a correction. and this analysis shows the study which shows that Nifty 50 is preparing for a down move. - throughout it's upmove nifty 50 has gotten into a tight range now making a rising wedge pattern which has a high probability of breaking down and high profitability. - Along with it has also formed a double top at the resistance of the rising wedge - My 3 point is that as per the elliot wave theory nifty 50 has completed it's 5th wave and is ready for a correction - Last point which supports the bearish claim is the RSI divergence which can be clearly spotted with a naked eye in the chart. I believe in keeping things simple and accurate rather than filling up the chart with a lot of Noise. If you found this analysis insightful and helpful please give it a like and leave a comment if you have any doubt or for discussion I would love to hear your opinion on this analysis. Thank you.
NSE:NIFTYShort
by Ajuba1205
14
Bubble of 2020 will burst by April 2021!All governments globally have been generous in providing decent amount of stimulus to their respective countries as compared to their GDP's. What makes me wonder is that even after such huge amount of stimulus many countries have shown flat GDP growth or economic contraction. What if these stimulus were not provided at first place? The economies and the global markets would die out of lack of liquidity. The stimulus just acted like a ventilator for dead global economies. The scary part is the recovery rally that we witnessed after 23rd March 2020 (bottom of crash) is actually a bubble as stock prices have increased whereas earnings of many stocks are still away from their previous highs resulting in crazy P/E ratios on index (i have never witnessed a PE ratio of 34 on Indian markets). This bubble shall burst as on ground in practical life consumer spending is less and many small businesses have shut down. Banks are at a huge risk of default (worst then 2007-2008). The interest rates are cheap and people are buying automobiles on huge loans out of their affordability. Things will start spiraling down to reality as central banks will increase interest rates soon and consumer spending through loans will also go down. Financially, next decade will be challenging. We will see another market crash by 12th April 2021 (max). The bull rally is short lived!
UShort
by StockMarketAnalysis13
4