I am publishing my idea after a really long time. Excuse me for my laziness.
Nifty has only been bullish since we corrected in March 2020. I made the mistake of shorting and going against the trend last month for much I gained experience (laughing and cringing).
We are at a 50% stretch to pre-covid levels and yes it is time for us to become cautious. However, the charts have a different story altogether. We are going for a big bull rally like never before but wait. Aren't we already in a bullish rally since March 2020? Yes, we are and any correction here (subjected to respecting the trendline) is the only opportunity to go long on quality Mid Caps and Index Funds.
But I am afraid, market structures like these have a long bull rally followed by a long bear rally too. Once we break the trend, the index will face severe exhaustion of fresh capital and only profit booking will spike thereafter. The bulls will lose confidence to get the Index back in the trend without any fresh liquidity (no more free toffies?).
Moral of the story: Enjoy till the party lasts, but also be sure to leave sensibly when the time arrives, otherwise you will only end up sobbing in the hope of a next party.
Nifty has only been bullish since we corrected in March 2020. I made the mistake of shorting and going against the trend last month for much I gained experience (laughing and cringing).
We are at a 50% stretch to pre-covid levels and yes it is time for us to become cautious. However, the charts have a different story altogether. We are going for a big bull rally like never before but wait. Aren't we already in a bullish rally since March 2020? Yes, we are and any correction here (subjected to respecting the trendline) is the only opportunity to go long on quality Mid Caps and Index Funds.
But I am afraid, market structures like these have a long bull rally followed by a long bear rally too. Once we break the trend, the index will face severe exhaustion of fresh capital and only profit booking will spike thereafter. The bulls will lose confidence to get the Index back in the trend without any fresh liquidity (no more free toffies?).
Moral of the story: Enjoy till the party lasts, but also be sure to leave sensibly when the time arrives, otherwise you will only end up sobbing in the hope of a next party.
