Nifty’s Fake Comeback?
Nifty had an impressive bull run this year, hitting an all-time high of 26,000 in September 2024. It was all sunshine and rainbows—until it wasn’t. The index has since dropped 10% and is now crawling its way back up. But let’s not get carried away just yet.
After reaching its ATH, Nifty dropped by 10%. Now, it’s trying to recover, but the road ahead looks uncertain. A critical pattern has emerged in the charts: a head-and-shoulders pattern. Currently, Nifty has climbed back to the neckline of this pattern, a level many traders are watching closely.
The big question now is whether this rally is genuine or just a dead cat bounce. Many are skeptical about the current move, fearing that the market could head lower again.
After reaching its ATH, Nifty dropped by 10%. Now, it’s trying to recover, but the road ahead looks uncertain. A critical pattern has emerged in the charts: a head-and-shoulders pattern. Currently, Nifty has climbed back to the neckline of this pattern, a level many traders are watching closely.
The big question now is whether this rally is genuine or just a dead cat bounce. Many are skeptical about the current move, fearing that the market could head lower again.
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