BLOW OFF TOP NIFTY
NIfty 50 index has gone back up the important trend line that ranges back to it's inception in 1991.
GFC 2008 was only other incident when NIFTY went down this trend line for substantial period.
However when it went back up on the trend-line, it stayed there up until the crash of Health Crisis.
Now, Nifty has recovered from the crash and went back up on the trend line, this bull trend is here to stay!
I do believe valuations don't justify the earnings of many stocks currently but from a trader point of view, I'd still be bullish.
NOTE: This is my personal opinion and in no way a investing or trading recommendation.
GFC 2008 was only other incident when NIFTY went down this trend line for substantial period.
However when it went back up on the trend-line, it stayed there up until the crash of Health Crisis.
Now, Nifty has recovered from the crash and went back up on the trend line, this bull trend is here to stay!
I do believe valuations don't justify the earnings of many stocks currently but from a trader point of view, I'd still be bullish.
NOTE: This is my personal opinion and in no way a investing or trading recommendation.
Penafian
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