Nifty is bouncing off on a critical support 200 SMA and lower end of the channel. If it breaks below the 200 SMA and lower end of channel, expect it to test the gap fill levels 17016, 16641, 16340, 16049 eventually 16000. Timing the 16000 target is difficult but I expect it to hit before 2022 end or earlier. On flip side if earnings are good and dollar prices fall down, we can expect 19000 soon.
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www.wsj.com/art...kes-11666356757?mod=hp_lea...
Fed pivot news from WSJ weakened the Dollar today and we saw huge rise in other currencies, stocks and commodities like Gold and Silver. With Dollar weakening on short term, there's now more chances of Nifty taking up the all time highs 18600 and might even test 18900-19000..
Fed pivot news from WSJ weakened the Dollar today and we saw huge rise in other currencies, stocks and commodities like Gold and Silver. With Dollar weakening on short term, there's now more chances of Nifty taking up the all time highs 18600 and might even test 18900-19000..