It’s a new high! The Nifty crossed 6850 to make another new all-time-high. Here’s some key metrics, in a single chart:
We haven’t seen a 10% trend change for a very long time. Look at the trend graph:
This is constructed by calculating whenever the Nifty falls 10% from the last high or rises 10% from the last low. (The excel bit is complicated.)
What’s interesting is that the current trend is about the second longest trend in the last eight years.
However, it can easily last longer. The previous uptrend was nearly 450 days, while the current one is only 254 days (without a 10% correction).
Will you bet that this uptrend lasts another 150 days and takes over as the longest ever?