The Sentiment turned extremely cautious when markets fell in Nov and Dec. That sentiment continues to play on investors mind. After the rally in Jan a steep correction in Nifty has investors calling this a stock market top that will not be surpassed for months to come or for the rest of 2022.

I disagree.

I will be wrong 30% of the time based on my methodology and my methods suggest that the above view is wrong and based on sentiment and not a proper analysis of the markets market internals.

If you have not seen a bubble in your life you do not know how bubbles pop. When the 1992 peak formed ACC fell 50% in a matter of weeks from the high of 10500 [rs 100 paid up share then].

When the tech bubble bust in 2000, Infosys and Wipro also went down for several days consecutively hitting the lower circuit day after day. Yes, it was not just HFCL and Silverline that hit lower circuits. Everything crashed like crazy

Today the losses in Zomato Nyka Paytm among others are being used as poster child of a bubble busting. But we get 10 stocks listed with fintech written in their names and no earnings at 1000 crore valuations we are not there yet.

For now look at the developing technical picture of Nifty as it swings around the bears.

https://twitter.com/indiacharts/status/1486632111230488584?s=20

Then if you ask me which worst performing sector last year is going to become the best performing next year I will say banking and that is leading the Nifty from the front already.

https://twitter.com/indiacharts/status/1486658427140984832?s=20

For a more detailed discussion on how markets are poised listen to my latest Soundcloud podcast.

Regards

Rohit Srivastava

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Rohit Srivastava
www.indiacharts.com
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