NIFTY Index Chart Analysis

NIFTY PUTS UP A TEPID PERFORMANCE

Nifty 50, the benchmark index, gained for the seventh straight year in CY 2022. Historically, Nifty has witnessed two spectacular winning streaks: the first one was between 2002–2007 which lasted about six years and the second began in 2016 that has surpassed its prior winning streak of six years as it has extended its winning streak for the seventh consecutive year in 2022. In between, Nifty had witnessed six years (2008–2013) of consolidation. The big question now is whether Nifty’s current winning streak will continue or will it enter into a long period of consolidation?