September 11, 2022

Nifty 50: More bullishness ahead?

B Krishnakumar / Stocks, Categories, Premium / September 11, 2022

The price action in the Nifty 50 index, and the broader markets in particular, have been extremely bullish. The overbought scenario in the short-term breadth indicator was resolved by a sideways consolidation in price. This is a major sign of strength indicating that prices could power higher. In a downtrend or a weak market environment, the overbought breadth would typically lead to a sharp price correction, which will in turn lead to a cool off in the breadth indicator.

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September 11, 2022

Nifty 50: More bullishness ahead?

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