Nifty has weathered so many storms all at once so far - What Next ? 🌪

Just when we thought markets will be bit more stable than usual after covid, war stuck us :slight_smile:

We were like - " Okay, this is rare and shall be done in days" - It has been more than 60 days now , but war is still on.

Other than war, we are seeing many other headwinds like rising interest rates across the globe, short term stagflation like scenario in country in US (GDP was negative in q1 n multi decade high inflation) , massive currency depreciation in EU, Japan, china , massive outflows from FIIs and of course, crude being comfortably above 100$ per barrel

When we look at the issues individually itself, the situation looks grim. What happens when it all comes together - Well, apparently, Nothing serious as markets are still holding ground thanks to the support from DIIs and ofcourse, retail.

One may argue that, we are being temporarily held up due to the upcoming LIC IPO, No doubt, that’s a possibility.

But, After the event, What’s next?

Would love to hear your take friends.

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I am no good with fundas, so ill just say how charts seem to me.

Logically it looks wrong, with so many negative news why markets are not falling. But that is also very bullish as all negative news is getting ignored, buy the dips is very prominent now.

If you look at monthly charts, we have a bull flag. ofc in monthly chart everything looks bullish in stocks… EPI index, which is in dollars, also shows a very nice break from long time highs and a bull flag on top of it. All of this looks very bullish to me. In lower timeframes, we are range bound, probably best to wait for market to make a move towards extremes and then hold well. As always any pattern can fail, anything can happen in real-time…

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