The India bubble
Disclaimer: My charts reflect my own analysis and opinions which could be wrong; do not take anything here as investment advice because it is not.
I've been watching the Nifty and Sensex indices for a while, noticing their absolutely insane. Since 2004 the Nifty has run over 1200%. Even in the best scenarios, these moves eventually come to an end and have to correct to at least some degree, because such growth cannot be sustained indefinitely.
What caught my attention was not just the sheer gains but what in my eyes look like the same identifiable sections that nearly every market cycle forms which I have labeled in this chart. Note: I'm aware that my eyes may be deceiving me, but this is what I feel that I see. And the fact that there is a massive bearish divergence on RSI, the stochastic, and the macd, on the monthly time frame, supports my suspicion. Not to mention the Adani group news that broke right at what I believe is the top, to catalyze a move down.
I've been watching the Nifty and Sensex indices for a while, noticing their absolutely insane. Since 2004 the Nifty has run over 1200%. Even in the best scenarios, these moves eventually come to an end and have to correct to at least some degree, because such growth cannot be sustained indefinitely.
What caught my attention was not just the sheer gains but what in my eyes look like the same identifiable sections that nearly every market cycle forms which I have labeled in this chart. Note: I'm aware that my eyes may be deceiving me, but this is what I feel that I see. And the fact that there is a massive bearish divergence on RSI, the stochastic, and the macd, on the monthly time frame, supports my suspicion. Not to mention the Adani group news that broke right at what I believe is the top, to catalyze a move down.
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