Nifty - Euphoria amidst broad based gloom

Nifty - Euphoria amidst broad based gloom

Ritesh Victor
21 Nov 2019 05:16 PM
The previous time I wrote about Nifty (when it was around 11580), had commented that there is a double top formation and that there could be a decline towards 11100 – 11200. Well, Nifty broke past 11700 (my stop) and surged towards the magical 12000 mark. Blue chip stocks are euphoric amidst broad based gloom. After closing in towards the all-time highs of 12103, will Nifty surge above the historic peaks? Quite ironic that benchmark stock indices are scaling all-time highs when widespread economic scenario is saddled with misery.