EQD | NIFTY at a Fork: Is the Rally Over? or Can It Stretch for 3 More Weeks?

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751 Views14 Dec 2024 01:59

The NIFTY Index in the past 4 weeks rallied over 5% from its recent low. Our models suggest it is not yet massively overbought, it could continue higher in the coming weeks, with some caveats...

What is covered in the Full Insight:

Introduction to NIFTY's Recent Performance
Market Reversal Matrix Overview
Quantchart and Distribution Models Explanation
Quantchart Analysis of Support and Resistance
Price and Time Pattern Distribution Analysis

Boomeranged on Thu, 19 Dec 2024 21:42

The NIFTY 50 this week broke through the support level at 24407 (50% probability of reversal) and got closer to the 23718 level (75% probability of reversal). Good odds to go LONG. In this insight we mentioned that the LONG TIME model is also bullish: pullbacks should last only 1-2 weeks. The Index may be about to end its downtrend, this insight can help identify the area to re-enter LONG.

SUMMARY

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