Nifty 50 Forecast: Continues to Pressure to the Upside

Also, the recent rally has been a bit steep, but I feel we will continue to see the market try to break out of this bubble. In India, we have seen a nice rally in the stock market in recent weeks and the Nifty 50 has reflected that. Right now a lot of people are betting that India will take a lot of business away from China, especially with American and European companies. This may be part of what is happening now, but the fact is also that the Indian rupee has been under pressure for some time and that is why exports are getting cheaper. Advertisement Stock Markets Crash Again Buy Dips Now! Looking at this chart, you can see that the ₹ 18,000 level held and should now be supported as we make a pullback. The ₹18, 00 level has been a key resistance in the past, so it makes sense that we see some hesitation here. Also, the recent rally has been a bit steep, but I feel we will continue to see the market try to break out of this bubble. Having said that, the recall makes sense, but we can only digress. Anyway, I’m not interested in shorting the Nifty 50 as it seems poised for a major breakout. Stocks are in trouble Also looking at the general sentiment of equity indices around the world, they have shown some signs of life, but it should be noted that the Nifty 50 has risen faster. Also because it is a leader and it could indicate that people are starting to look at the Indian economy as a potential leader as the world recovers. It is also worth noting how unstable the world economy is and how India has simply ignored it. That’s why you want to stay in a similar situation as us. The market is probably still buzzing, but note how it has certainly been successful in so many other markets that it deserves special attention. In fact, it sets itself up for a nice pair, perhaps buying the Nifty 50 and shorting an underperforming index, such as one of the Chinese indices that have struggled a lot recently. As such, I am bullish on this index, although I believe many stocks are struggling globally.

Michael Cooper

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