Nifty50 bubble busted, now its time to trap sellers and give a high close
After busting bubble now nifty is ready to give a boom expiry.
If we see below chart, NIFTY50 futures has crossed 61% fib level. Means New sellers might have trapped again selling impulsively. So nifty big brothers twin RELIANCE AND HDFC BANK has huge potential to go up. I am expecting a bullish week and closing this year.
Nifty50 bubble busted!!
As in my previous post I have been continuously saying nifty is bubble and see below chart of nifty 50 what happened today. It is very obvious that nothing can go straight in a line and anything which goes in that way falls in the same way, every action has a reaction.
Nifty50 bubble resistant can be faced at current level
As posted on 16th Market faced resistant and soon we may see a sharp fall
When is bubble means more than expected and unrealistic.
Looking at the above charts It clearly visible that nifty did not take even a single healthy retrenchment before touching life high, now market moves in such a single direction no matters what is good news. Moving one sided more than 2600+ points is something seems unusual.
Looking at the gift nifty of recent chart it was down nearly 76 points, which is clearly showing next week is going to kill the bulls since they have have taken it so much high. It may also be possible this can continue till 22000 and then fall can bring it bank nearly 20000 marks where it should consolidate.
FII are buying so much in IT stocks, there mood is not known after buying thousands of crores may be dumping more than that once has be very careful looking at the chart. Its like going at a single time touching mount Everest which is logically impossible.
Also read: USD/JPY -7th Dec. 2023