Where is the NIFTY @20K shirt?

[Prakashsingh]

What a mad bull run in the indices

[jashjacob]

Looks like @Jason_Castelino prediction will hit today.

Super excited to see CE writers running for cover.

ATM CE still having OI buildup. Who will run first?

P.S Spot is high than July Futures.

[jashjacob]

ICICI Bank leading the pack. Will we see 1000?

[Prakashsingh]

Good results from the banking space can take bank nifty to 50k as well if we are to see a euphoric run

[jashjacob]

Indian market outperformance -> for how long?

Very positive on Indian markets. Unless something horrible happens at macro level, we should see nifty at 20k by Sep 2023.

It’s not even Sep 2023 yet.

I suppose if we don’t get 20K close today, we might see a spike up in the market open tomorrow.

[Jason_Castelino]

@jashjacob

Super excited to see CE writers running for cover.

I was the one ready to cover at 20000ce. Lol. I like upmove but not this fast.

[Jason_Castelino]

@jashjacob

It’s not even Sep 2023 yet.

I actually gave the reasons too.

@Jason_Castelino

Right now I feel market is at a premium of around 2 to 3 percent. Not more than that. This is on the basis of fundamental analysis. And we are like 14 percent away to 20k. So total we may need a good growth of around 16 percent. Considering the constitutions of nifty I feel it’s very much possible. If IT reverses from here and sees a upside of 10 percent, that in itself be equal to 3 percent in nifty. Then there are hdfc twins. If merger is completed we may see some upside here too. Reliance is also yet to move big. So I am taking this guess of 20k.

I have also mentioned about 21k by March 2024 somewhere in this forum.
Now let’s see if that happens.

[Praksy]

@jashjacob

I suppose if we don’t get 20K close today, we might see a spike up in the market open tomorrow.

Hmmm

[jashjacob]

Oops! Took an L on that trade.

[viswaram]

If nifty crashes today, then i will start seeing MUTUAL FUNDS SAHI HE ads in twitter feed from tomorrow!

[jkalathil]

Correction as expected from a Technical point of view.

[Praksy]

@jkalathil

Correction as expected from a Technical point of view.

Where were you yesterday man with your lines? Should have shared your technical expertise here also yesterday rather than posting them after the fall. Hindsight bias ftw!

[jkalathil]

Oops! Sorry about that.

20k is a psychological level and the market is in an overbought zone. Both Nifty and Nifty Futures couldn’t take 20k yesterday. Only Gift Nifty took 20k. Which is a sign of a bearishness or a small profit booking. Plus this technical resistance level. The same happened on the day when Nifty tried to take 18k for the first time. The market is repeating itself.

[Meher_Smaran]

Damn…My 20k shirt.

I hope the size fits the next time I get to wear it

[Praksy]

@jkalathil

The same happened on the day when Nifty tried to take 18k for the first time. The market is repeating itself.

Okay, then as per your technicals, Nifty fell before touching 20k because earlier too Nifty had fallen before touching 18k.

Then why didn’t Nifty fall before touching 19k? What’s so special and psychological about 18k and 20k but not 19k?

See the charts once Nifty came close to 19k, it just crossed 19k and it never went back to 19k again.

All these stupid technicals my gosh. 18k and 20k are special psychological levels and 19k is not because again Hindsight Bias.

[jashjacob]

@Meher_Smaran

Damn…My 20k shirt.

Next time @Prakashsingh will get everyone one

[viswaram]

@Praksy

All these stupid technicals my gosh. 18k and 20k are special psychological levels and 19k is not because again Hindsight Bias.

Its totally okay if an user has a view or idea as long as he is making money. We need not judge other’s bias or sentiment.

chill !

[Prakashsingh]

I jinxed it big time.

[abcd5662]

@Meher_Smaran

Damn…My 20k shirt.

I hope the size fits the next time I get to wear it

With BNPL

[Private]

@jkalathil

Correction as expected from a Technical point of view

it is easy to draw this for past candles.