NIFTY : Expecting a sell-off in overall Indian Market
From the low formed in March 2023, Nifty has rallied over 18% and from that in June of 2022 the rally is over 30%.
Although there is no major negative factors effecting the Indian economy like recession or war or political instability, still from a technical view point there is a high probability for a reversal move.
This may be due to profit booking or even the ripple effect of a crash which may happen in US market or FII selling or something else unknown for now.
Market may even continue for a while in the current ascending formation for a few more weeks maybe. But still I do suspect that a crash will be there on the cards within a few months.
Although there is no major negative factors effecting the Indian economy like recession or war or political instability, still from a technical view point there is a high probability for a reversal move.
This may be due to profit booking or even the ripple effect of a crash which may happen in US market or FII selling or something else unknown for now.
Market may even continue for a while in the current ascending formation for a few more weeks maybe. But still I do suspect that a crash will be there on the cards within a few months.
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