The 5 years weekly chart of NIFTY is attached herewith. Look at the pattern similarities. This shows that the deciding point is approx 5500, above which long time heaven and below long-term hell. Interestingly, this is approximately the 200 DMA point too.
The question is whether the 2 year Cycle repeat r not, which the time has to tell. Till then I will have to keep you guessing…
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