#TradingUniversity
Nifty 50 is likely to make medium term top near 18500 before going for a multiweek /multi month correction. The lift would be provided by banknifty aiming for 40000 which in turn would be supported by
1. Strengthening of INRUSD/ US infra bill and India asset monetisation plan
2. #NIFTYPHARMA and #NIFTYIT sectors have had good run-up recently and are likely to correct aided by strengthening of rupee and the fund rotation to banks for short term.
The Nifty/ banknifty rally should happen soon and the 1000 pts journey of nifty should take less than 28 days(16000 to 17000) to reach 18000 thus creating a sense of euphoria and necessary liquidity to aid correction.