I do not think that Nifty will touch that mark during Diwali, prior to Diwali or, after Diwali!! Then actually where it will be? Diwali- mid-November. In my opinion, during that time Nifty will be around 11000 (by virtue of trend reversal). Support is at 10500 if holds will go up if fails will go down to 9000 or…? Can you or, anyone share your or, their opinion? I am curious!
I think Nifty will be around 11900 - 12100 range for a while and investors start booking in the month of November after US Elections result. I have no powers to judge and predict but just assuming with the market scope.
Technically, price seems to be in a no trade zone between 11661 and 12025, which is the range of 15th October. If price sustains above this range, we may see an attempt towards 12246. That said, the outcome of the US elections could play a key role in determining whether the index hits a record high by Diwali
21 days before when I posted this post, many might not believe that this is a realistic level. Today it is striking distance away. Thanks to some geopolitical development.
