Considering the past, NIFTY 50 respects the parallel channel pattern since 2003 (from where the channel pattern shows some sense. Didn't consider since inception as it would not in any way throw some light on understanding in a channel pattern.). But the recent post COVID spyke made NIFTY 50 breached the channel by 5,250 (from 13,300 on Dec 2020 to 18,550 on Oct 2021) whereas 13,900 will be the actual value as per the channel on Oct 2021.
Hence, 35% overvaluation of 4,650 points could be a possible correction in the near future.
Having said that, this might also be very well a beginning of new channel towards the growing Indian capital markets future. Hence, let us all stay aware of it.
Comments, critics, suggestions, macro & micro economic information, your opinions are most welcome!!!!
Not a financial advice. Do Your Own Research.
Hence, 35% overvaluation of 4,650 points could be a possible correction in the near future.
Having said that, this might also be very well a beginning of new channel towards the growing Indian capital markets future. Hence, let us all stay aware of it.
Comments, critics, suggestions, macro & micro economic information, your opinions are most welcome!!!!
Not a financial advice. Do Your Own Research.