Nifty trading around it's all time high but the reality is Indian Markets are ready to fall.I am expecting nifty to fall till 7000 level.Its time bond itano fall any time be careful my dear friends.This is just my view nothing personal.
Nifty could hold on to the gains of today but couldn't seem to breach and hold previous Highs of 12960.
This could very well mean distribution at higher level for an impending fast correction. Especially when we are already seeing bank nifty getting weak.
Reliance and IT were main contributories to this movement but both the counters look to retreat and take...
We can't predict the market, atleast not in this global scenario where market is showing 'K' shaped recovery.
If somehow consumer durables, Hotel and entertainment, automotive, Construction sector gear ups nifty can break its all historic resistance and we will see fresh trend pattern.
But it still looks impossible in short zone as Indian covaccine gonna launch...
Nifty has shrugg off covid blues and is back in its long term channel she has been following since Sept-18. 10-12% move in either direction is due now. I would incline to bearish movement because:
1 No news (positive/negative) expected
2. FTSE Rebalancing and effective pouring of FII money already factored into future data since Nov series beginning