The Nifty is the flagship benchmark of the National Stock Exchange (NSE), which is a well-diversified index, comprising top 50 companies in terms of free-float market capitalization that are traded on the bourse. It is supposed to reflect the health of the listed universe of Indian companies, and hence the broader economy, in all market conditions. -ET
View- Bullish.
Let’s look at the thorough technical analysis of Nifty 50. The current market price of nifty as on 04-07-2021 was 15722 and we are expecting it to reach a target of 30000 in 2-3 years.
Nifty registered a top on 01-Apr-1992. After that, the prices moved in a channel till 01-Jul-2005 and then comes a massive bull domination phase for almost 4 years. If I consider the data from channel bottom and after that market crashed in 2008 which looks like a channel retest in long term charts and then again the price moved in an upward channel like before.
In this chart we’ve tried to estimate the time for how the long price stayed inside the first channel and have compared it with the second one and it looks like both the channels took the same amount of time inside the channels. #Stunned
So, this gives us a rough idea that for 2-3 years bulls are going to dominate the Nifty but smaller pullbacks and shakeouts cannot be ruled out even if Nifty rallies ferociously.
Hates off to your knowledge I haven’t thought NIFTY in this way
Thankyou.
Nifty 30K in 25-35 months has a very high probability. This is in line with your study of Nifty Bank around 44K in a similar timeframe. BankNifty n Nifty will keep pushing n pulling each other to make this happen. My view is more aggressive: Nifty has a high probability of 42-45K by 2025-26. Pls try to extrapolate. Thank you for this wonderful analysis as always😊
Indeed, Thankyou sir.
Totally agreed. Very well put across. This is 2004-2008 time for india for sure
Thankyou sir.
Sir one question ❓ I want to ask.
NIFTY created gap 1=@11930 – 12025 gap2=12281-12366 Which needs to be filled according to gap theory. So what could happen will gap gets filled or it will act as strong support ?