Suppose to close below or trade below 11760 nifty, then hold position for our mentioned targets… selling pressure are seen.
As we saw yesterday, there has been a lot of profit booking by Fund-Managers. Although daily candle appears technically DOGI, this is a single of change trend.
Nifty price is still above 50MA and 200MA as plotted in chart also, which indicating positive bias in the short term.
Cash Nifty:
selling expected is 11729 to 11748 and below 11580 below is confirmation of changing trend.
Nifty Future:
Selling are not suggested 11786-11796 if you are not acted yesterday.
below to 11715, it can more and selling pressure expected to continue.
ATR is till normal which means not started downtrend.
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