Where Will Nifty Top Out In Current Bull market ?

Nifty is currently in a momentum bull market with Index Crossing 10000 and stocks flying as there is more tomorrow.

Many traders were asking my Opinion on the current bull market, I am reproducing the below post which I have discussed as part of my Yearly analysis on 20 Dec 2014.

Please go through the below link to read the post in detail

We have discussed on 20 Dec 2014 Post 

How much Nifty can rise in current bull market

 

Monthly

Monthly

Between 2008 and 2014, the Nifty re-tested the 2008 high on two occasions in 2010 and 2013.Both these attempts lacked broader market participation as Mid caps and Small caps saw big underperformance during these period.  But after the thumbing mandate we got in May 2014 saw mid caps outperforming which shows participation on all ends.

 

Monthly chart is showing a clear ascending triangle formation with breakout above 6335/21206 for Nifty and Sensex. So target as per ascending triangle comes

6335+(6335-2252) =10418

21206+(21206 – 7697) = 34715

Updated Monthly Chart

Nifty Monthly Chart

High made as of now is 10115. Once 10115 is crossed we can move towards we are heading towards 10238 and 10418.

Nifty Target Calculation using past correction

Below chart we are identifying the target based on the range of last correction

We had major correction from 9119 on 04 March 2015 till 6825 on 28 Feb 2016 range of 2294

9119-6825 = 2294

We made a major top at 8969 on 08 Sep 2016 and corrected till 7894 on 26 Dec

Nifty generally retraces the 100% of last correction so based on that target comes to

7894+2294=10188

High made was 10115 almost near to target.

 

 

ABCD Pattern Target

 

Few Number to Keep in mind as per Vedic Maths and Gann Analysis where traders can book partial profits  10238/10576/10800/10946

Traders looking for time can see the below post where we have given yearly turning date of Nifty.

Nifty Yearly Technical Outlook with Time Analysis for 2017

To end my analysis always remember the below line

Don’t confuse brains with a bull market

There are no limit of  Bull Market Rise

 

11 thoughts on “Where Will Nifty Top Out In Current Bull market ?”

  1. ARCs to purchase distressed assets and bundle and sell. Another subprime crisis. Irrational exuberation.

  2. Thanks for excellent analysis .Can you please through a light if Nifty Starts to fall from 10418 to which point it retraces back

  3. SUPERB UN MATCH ABLE

    So the nutshell magic of 50 silver to golden 50 .to follow

    Thanks and Thanks again you confirmed me.

    SUNIL 30/07/17

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