Nifty approaching a Top
Aggiornato
Nifty closed today at 9979 up more than 1.5%, riding on upbeat sentiment as India starts to re-open.
As we are just shy of 10K mark, I would expect Nifty to touch at least 10150-200 levels. But as Market turns all bullish, I have to mention that we are approaching a potential Top in this rally.
Nifty has risen in what seems like a straight line from 9000 levels, which indicates we may be completing this rally early than from what I had anticipated. Had we have had some sort of a breather in between, I would have then expected Nifty to rally up to 10600. But now that we haven’t had any pullback of sorts, I am of the view that we might not be able to go that far.
As we are just shy of 10K mark, I would expect Nifty to touch at least 10150-200 levels. But as Market turns all bullish, I have to mention that we are approaching a potential Top in this rally.
Nifty has risen in what seems like a straight line from 9000 levels, which indicates we may be completing this rally early than from what I had anticipated. Had we have had some sort of a breather in between, I would have then expected Nifty to rally up to 10600. But now that we haven’t had any pullback of sorts, I am of the view that we might not be able to go that far.
Commento
Expect 9800 Next
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