The Indian stock market is on a record-breaking spree, with the Nifty 50 poised to touch the 21,000 mark for the first time. Global market indicators suggest a positive start for the indices. On December 6, the Sensex closed at 69,653.73, and the Nifty 50 settled at 20,937.70, extending their record-setting trend.
Technical analysis indicates caution as a dragonfly doji pattern forms at all-time highs, suggesting a potential short-term reversal. However, experts anticipate the short-term trend to remain positive, with the possibility of consolidation or a minor correction around 21,000 levels. Analysts emphasize crucial levels for Nifty and Bank Nifty, predicting potential bearish reversals and recommending a buy-on-dip strategy.