The index had a double top in the zone 9100-9200 zone- Likely looking to correct as momentum indicators aren't supporting the current leg, which started in Feb-March 2016 from the lows@6924- hence it is very likely that Index could correct & it is standing on our doors.
Comments
selvamB
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The same case for NIFTY also,because B WAVE is not taken by FII's
mragarwal
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at the moment and from Short term point of view, downmove is weak and most likely we revisit 8900 before anything else.
WaveTalks
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Could be possible but we need to be careful.
nirav5
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I was waiting for your analysis on monthly Nifty chart. Thanks .