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 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.
selling expected is 11729 to 11748 and below 11580 below is confirmation of changing trend.
Selling are not suggested 11786-11796 if you not acted yesterday.
below to 11715, it can more and selling pressure expected continue.
ATR is till normal which means not started down trend.