Nifty at a very strong support area
Recent budget and more importantly, recent adani fiasco, lot of ppl are in two minds and are habitually going in bear mode on Indian markets.
But I'll have contrary view, as usual.
I see Nifty taking a really strong support from 17500 area approx. and bounce for new highs, even as far as doubling the market in next 5 years.
This analysis is based on trendline S/R, so of course, if this fails, it means market can also go towards becoming half of what they are now, but I'm betting on long side.
Afterall, not many good growing economies in the world atm.
Everyone has their own set of problems.
Also, on side note, Adani fiasco, may or may not be completely real, but its important to remember, they do have very large scale businesses, they also have no competition in them and they also have backing at very high places.
So, don't be too bearish on it, free floating stocks are not much in Adani and there is limit to how much it can fall (I don't know till where though, will do separate post for that).
Regards
But I'll have contrary view, as usual.
I see Nifty taking a really strong support from 17500 area approx. and bounce for new highs, even as far as doubling the market in next 5 years.
This analysis is based on trendline S/R, so of course, if this fails, it means market can also go towards becoming half of what they are now, but I'm betting on long side.
Afterall, not many good growing economies in the world atm.
Everyone has their own set of problems.
Also, on side note, Adani fiasco, may or may not be completely real, but its important to remember, they do have very large scale businesses, they also have no competition in them and they also have backing at very high places.
So, don't be too bearish on it, free floating stocks are not much in Adani and there is limit to how much it can fall (I don't know till where though, will do separate post for that).
Regards
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