Expecting a crash to the low of the channel in NIFTY. If this happens then a rebound can be expected around 15,000 levels. This is not a high probability outcome, considering the current sentiments of the market. But this is truly a possibility since the market is overpriced and this will give a fair valuation to a lot of overpriced stocks ( at the moment ).
The current issues related to Carlyle arm selling stake, is not a major concern for the overall growth of the stock. This is just a temporary issue and I see this as an opportunity to buy. Will be adding on if price dips to the other two inflection points mentioned herein. Will be selling only when price reaches the top of the channel line.
Price is moving correctively in a sideways range. There is a higher probability for one more push to the upside to test the double top levels and then crash.
But we don't negate the possibility for the price to break those levels impulsively and then push higher. But as of now there is not enough momentum in the market for this to happen.
Will be taking trades in...