Equity market made its top – What lies ahead?

The peak/top of the Indian and US stock markets was reached yesterday which was followed by a significant decline in the second half. If Nifty does not cross 22,000 on a closing basis for two consecutive sessions, it may correct to 18,000. Similarly, if the S&P500 does not close above 4,850 for two sessions, it may correct to 4,250.

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