NIFTY ON VERGE OF BIG BREAKDOWN
NIFTY INDEX (SPOT) is on the verge of big breakdown. Since March 2020 Nifty is trading in a Rising Wedge pattern. Currently Trading at 23000 Levels (near rising wedge pattern support)
If Nifty on the Spot market breaks 22700 and Closes below 22700, Huge correction will be seen, which can be very worse and new comers who joined the market after 2020 (Covid) had never seen. Till your positions with stop loss maintained at 22700 on closing basis.
If market breaks 22700 we expect levels up to 21300 in the next 3-6 months, looking at Marco economic and uncertainty in Global markets, USDINR fall and Gold Massive Run, US Feb Rates Cut Down & FII Selling all indicating some big changes will happen the Indian Equity Market also.
We are very cautioned right now, and expecting bear market for the Year 2025, so keep figures crossed and churn your long term portfolio to Nifty stocks from MID Cap Stocks.
If Nifty on the Spot market breaks 22700 and Closes below 22700, Huge correction will be seen, which can be very worse and new comers who joined the market after 2020 (Covid) had never seen. Till your positions with stop loss maintained at 22700 on closing basis.
If market breaks 22700 we expect levels up to 21300 in the next 3-6 months, looking at Marco economic and uncertainty in Global markets, USDINR fall and Gold Massive Run, US Feb Rates Cut Down & FII Selling all indicating some big changes will happen the Indian Equity Market also.
We are very cautioned right now, and expecting bear market for the Year 2025, so keep figures crossed and churn your long term portfolio to Nifty stocks from MID Cap Stocks.
Nota
Disclaimer: This analysis is for educational purpose. Not an advise to buy or sell. Kindly consult to your financial adviser before making any actual trade decision. 
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