Nifty 50 – Another Rally Before The Wheels Come Off
The Nifty 50 completed a 3-wave correction from its most recent all-time high. We expect another brief spike into the 12,200-12,400 area before the wheels come off. Indian equities have lost steam recently. Their rally continuation occurred on diverging momentum. This observation hints towards a nearby fade. However, the upside pattern is most likely still …