It is clear that Nifty moving in its own style (YOY) as last year but the only concern is the volatility at its best. Due to this volatility, people think that Nifty is at over bought zone and it creates fear among investors and traders to buy stocks and indices at this level.
When we compare the data between 2019 and 2020 ( till December 12th 2020 ), the movement and returns given Year-on-Year is almost same.
Nifty has moved an average of 115 points higher per month (excluding the volatility), below was the data of Nifty on monthly closing. Monthly closing is calculated below based on the expiry date ( Last Thursday of every month ).
Last 2 weeks in December, which is considered as the holiday season in most of the countries, Nifty could take a small correction downside or it could go sideways here and start fresh from January 2021, but definitely not expected for a fall like March 2020.
Best Regards,
B G Nareshkumar
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