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Are we ready for a 50% BOOST in the NIFTY? Targets set for 18250 over a couple of years…

Economics 06 July 2020 1:01:PM

Are we ready for a 50% BOOST in the NIFTY? Targets set for 18250 over a couple of years…

NIFTY SPOT: 12168.45 (+12.01%)

Higher Top & higher Bottom since 2013, after a 5-year consoli- dation breakout (2008-2013)
Walking the BAND (Upper Bollinger band) since 2014, even as the bands expand
Closed near the HIGH of the year 12168.45 vs 12293.90 (within a percent of the HIGHs)
Confirmatory close above HIGH of earlier year 2018 (11760), which showed a “SPINNING TOP”
Broader Markets underperformed with MIDCAP loosing 5% and SMALLCAP loosing 11%.
Fibonacci  Extensions on monthly chart of NIFTY (Refer the above chart) (LOW of 1990: 279, HIGH of 2008: 6357 and LOW of 2008: 2253)

Crossed  100%  retracement  (8415)  and  127.6%  retracement (10068) in year 2017
Breather in year 2018 with a DOJI (“SPINNING Top”)
Closing near the 161.8% retracement (12171) in year 2019
Projections open for 261.8% retracement (18250) over next few years.
The Indicators
Yearly RSI in a gradual uptrend unlike in 2008
ADX @ 33 (above 25) indicating a strong momentum

About The Author

Research Team

GEPL Capital Private Limited operates as a brokerage firm. The Company buys and sells equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate fixed deposits, as well as provides online trading platform. GEPL capital serves customers in India.