❗️❗️Speculative Data - Follow at own risk❗️❗️
I have previously warned over and over about pullback in Nifty while Nifty was near ATH 19800 levels during July 18, as expected Nifty did fall nearly 3.5% as of now. (Unfortunately TradingView house rules prevents me from posting the links to above warning)
After carefully studying the global conditions, macro-economic data and price action these are my view :-
1) The next and final fall to near 18800-19000 levels are expected within 2 weeks time. ie 2-3% more pullback. Will test and break the 50EMA.
2) Market to remain subdued 1-2 weeks.
3) Will start climbing again by end of August or start of September.
4) Will hit 20000 by September or October.
5) Market is still bullish in long term, this is just a necessary healthy pullback.
✅Based on the above points I will start booking profits(partially/full) and start closing positions before next weekly expiry (10 Aug).✅
As the title suggests this is purely speculative data and predicting market is an impossible task. I could be completely wrong and market may hit 20k or 21k next week itself. ✌️Peace
I have previously warned over and over about pullback in Nifty while Nifty was near ATH 19800 levels during July 18, as expected Nifty did fall nearly 3.5% as of now. (Unfortunately TradingView house rules prevents me from posting the links to above warning)
After carefully studying the global conditions, macro-economic data and price action these are my view :-
1) The next and final fall to near 18800-19000 levels are expected within 2 weeks time. ie 2-3% more pullback. Will test and break the 50EMA.
2) Market to remain subdued 1-2 weeks.
3) Will start climbing again by end of August or start of September.
4) Will hit 20000 by September or October.
5) Market is still bullish in long term, this is just a necessary healthy pullback.
✅Based on the above points I will start booking profits(partially/full) and start closing positions before next weekly expiry (10 Aug).✅
As the title suggests this is purely speculative data and predicting market is an impossible task. I could be completely wrong and market may hit 20k or 21k next week itself. ✌️Peace