Nifty Long Term Channel

Nifty has been in this channel since 1990 & we see a throw over in 2008 when extreme bullishness takes it past the channel top to only see a deep correction.

We are near to channel top again but do we have extreme sentiment on bullish side ?

No rather we have a extreme bearish sentiment so can we see a throw over again in this channel for this bull cycle started from Covid lows of March 2020.

Lets dig some numbers March 2020 Low was 7511
Oct 2021 High was 18604
Net Rise 11093 Points

June 2021 Low was 15183
Add 11093
Sept 2024 High 26277

Now we did to 2 equal rise of 11093 points 1st in 19 Months & second in 27 Months what if the low of 22786 is a major low given the extreme negative sentiment at we are adding another 11093 points from here in next 19 months.

Are we heading to 33900 by Oct 2026 ?

If Nifty closes above 25000 than second hurdle will be ATH at 26277 than we would see fast & furious bull run which could be last leg of this euphoria which gives a throw over on this long term Channel.




DISC : View shared here are for Educational purpose only i am not a SEBI registered analyst please consult your Financial advisor before taking any trades.