Is Nifty preparing for correction ??
Last Friday The index closed @ above 17500 which was a possible reversal zone ( 61.8% retraced from previous rally)
We will see strong resistance @ 17700, if nifty manages to break then possibly will reach 18100 and will complete the cup & Handle pattern. My view will be buy on dips until we are above 17500 level.
If the index is rejected from 17700 level we shall move for 17150.
Note - This is not a trad advise, i have shared my view and i have all rights to be wrong, Please trade on your own risk.
We will see strong resistance @ 17700, if nifty manages to break then possibly will reach 18100 and will complete the cup & Handle pattern. My view will be buy on dips until we are above 17500 level.
If the index is rejected from 17700 level we shall move for 17150.
Note - This is not a trad advise, i have shared my view and i have all rights to be wrong, Please trade on your own risk.
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