Time to book profits, Nifty Covid drug rally nearing exhaustion

NIFTY was in a channel from 2008-09 till 2020. But in Nov 2020 there was a breakout of this channel, I have taken the channel width as the possible target which is around 17650-17750 and then a possible reversal.

• This liquidity driven rally is reaching its exhaustion, tapering and inflation will catch up soon
  
• The marcos don't support this valuation
  
• There are many Geo political variables which would soon play out, especially China and USA
  
• Expecting Nifty to turn bearish over the next couple of months
  

BOOK PROFITS NOW!

Note: These are my personal views and not a trading recommendation. This will play out over the next 1-2 year time frame and not in short term.