Nifty is stretched (expecting 10% correction)

21 Jun 2024

I feel market is bit stretched now. Time for one corrective move. I might be wrong too but the pattern suggest that. Follow this post for regular updates. Views can be changed time to time. But for long run, it has to correct.

For more details also check my past analysis about fall.

21 Jun 2024

Catatan

Was forgot to mention this. Please consider these as a extension.
Major condition is nifty should close below 23450 in a day candle then it will be water fall (22750 will be least target). Also i have following reasons:

1. This is bearish wedge patter which rarely fails.

2. Market going up but 8 days candles are red. so something is cooking behind.

3. Due to month end there will be liq issue in stock options too. Long unwinding possible.

Again saying, i could be wrong but if right you will thank me later.

23 Jun 2024

Catatan

Please be aware about lot of political actions happening upcoming weeks. It can be very volatile. Dont play with and OTM options, gir jayega gir jayega karke. Please keep mind cool and read the price action, then only jump.

23 Jun 2024

Catatan

This quant fund news can become trigger.

24 Jun 2024

Catatan

Gapdown & bullish candle. Lets see what happends tomorrow.

25 Jun 2024

Catatan

It has become super bullish today. it seems it's ready for the 24k first.

13 Jul 2024

Catatan

Analysis gone completely opposite. now nifty in bullish zone only. Will update here ones again become bearish. Now enjoy the portfolio profits.