NIFTY : On a key inflection level
So, Nifty is at a bit of a crossroads right now. It could either smash through its all-time high and shoot up to 21k, or take a nosedive back to the lower trendline before going up again.
One thing that's catching my eye is that we haven't seen a third touch in both the short-term and long-term trend channels. This makes me lean towards a potential downturn. Sure, there's not a ton of bad news right now that could send things south, but I'm the kind of person who thinks news just adds spice to the market; the real direction is already set.
I'm thinking about cashing in on my Niftybees position because, even though there's not a storm of negativity brewing, I believe there might be some unexpected event down the road that kicks off a downward spiral. Of course, in the world of stocks, nothing's a sure bet, and I know the market could do a complete 180.
I'm curious to hear what others think. Drop your thoughts in the comments – let's get a discussion going on where Nifty might be headed!
One thing that's catching my eye is that we haven't seen a third touch in both the short-term and long-term trend channels. This makes me lean towards a potential downturn. Sure, there's not a ton of bad news right now that could send things south, but I'm the kind of person who thinks news just adds spice to the market; the real direction is already set.
I'm thinking about cashing in on my Niftybees position because, even though there's not a storm of negativity brewing, I believe there might be some unexpected event down the road that kicks off a downward spiral. Of course, in the world of stocks, nothing's a sure bet, and I know the market could do a complete 180.
I'm curious to hear what others think. Drop your thoughts in the comments – let's get a discussion going on where Nifty might be headed!
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