Nifty’s Fake Comeback?

Nifty had an impressive bull run this year, hitting an all-time high of 26,000 in September 2024. It was all sunshine and rainbows—until it wasn’t. The index has since dropped 10% and is now crawling its way back up. But let’s not get carried away just yet. After reaching its ATH, Nifty dropped by 10%. Now, it’s trying to recover, but the road ahead looks uncertain. A critical pattern has emerged in the charts: a head-and-shoulders pattern. Currently, Nifty has climbed back to the neckline of this pattern, a level many traders are watching closely. The big question now is whether this rally is genuine or just a **dead cat bounce**. Many are skeptical about the current move, fearing that the market could head lower again. https://preview.redd.it/7v4k6is1r07e1.png?width=2770&format=png&auto=webp&s=bf77a10a1bb57de04ffa4962552478ce5bc67a1c