NSE:NIFTY   Nifty 50 Index
Nifty 50 (Spot)
LTP: 15301.15
Support: 15280.70
Resistance: 15431.75 ( All-Time High)

The weekly charts are clearly in an uptrend and we may be heading to the all-time high sooner than we can expect and soon Nifty will become busy making new highs.

My question is that, how long are we going to sustain the highs without a correction? Do you remember how Nifty tumbled from 15431 to 14151. 40 before it made a reversal? That is what I am talking about.

I don't say we might witness 14100 levels again but I am expecting a running correction.

If you are long, hold you positions with trailing stop losses
If you are waiting, please wait for the right opportunity.
If you want to go short? You can sell on rise!

NoTa (No Trade)

p.s. weekly chart gives me hints of a double top pattern which is way more scary than we'd expect.

Comments

open a straddle and live in peace
+1 Reply
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