Formation of bearish pattern as inverse Cup with handle is almost completed in Nifty charts.
Bullish trend established as recovery since April-2020 level of 8000 to oct21 level of 18600 has been exceptional (annualized ~75%).
As on 17th Dec2021, Despite the past 3 years total return on nifty at whopping around 17.7% per /year and five years total return at 17.3%/year, the formation of bearish trend of inverted CUP with Handle indicates that return of bullish trend and its establishment will take another couple of weeks, or may be month if omicron situation gets out of control. But expecting nifty to rebound as quarterly results are expected to be better. And off course, for same reason (pandemic, in this case) market would not crash again.
Bullish trend established as recovery since April-2020 level of 8000 to oct21 level of 18600 has been exceptional (annualized ~75%).
As on 17th Dec2021, Despite the past 3 years total return on nifty at whopping around 17.7% per /year and five years total return at 17.3%/year, the formation of bearish trend of inverted CUP with Handle indicates that return of bullish trend and its establishment will take another couple of weeks, or may be month if omicron situation gets out of control. But expecting nifty to rebound as quarterly results are expected to be better. And off course, for same reason (pandemic, in this case) market would not crash again.