Nifty has come to fill the gaps between10603-10696 and 10440-10485 and to retest its 200EMA @10530.
It has faced resistance from its 200DMA@10881
Nifty is weak as it has broken its trend line in RSI as well. So some more fall is still left.
By hook or by crook it has to reach at least 10450 to make this correction convincing and attract buyers for next upswing
If gaps up tomorrow it will be much better as it will also retest the range breakout from which Nifty came out today.
So upper limit is 10700-10680 and lower limit is at least 10450
It has faced resistance from its 200DMA@10881
Nifty is weak as it has broken its trend line in RSI as well. So some more fall is still left.
By hook or by crook it has to reach at least 10450 to make this correction convincing and attract buyers for next upswing
If gaps up tomorrow it will be much better as it will also retest the range breakout from which Nifty came out today.
So upper limit is 10700-10680 and lower limit is at least 10450