Nifty in correction phase.
Updated
Nifty corrected nearly 400 points from top.
In my previous post I did warn you not to be super bullish as it is trending near channel upper line and correction can be expected any time soon.
As told earlier Nifty below 15219 is ready for correction.
Yesterday Nifty closed below 15219 and today it corrected another 90 points and more.
Levels marked as per the fib retracement. Do not be bullish till Nifty closes above 15219.
Stay aligned with Market. If it is correcting then let it correct and you stay bearish. Once it is done we will turn bullish after confirmation. Till then lets enjoy the phase.
Stay awake and Stay cautious.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
In my previous post I did warn you not to be super bullish as it is trending near channel upper line and correction can be expected any time soon.
As told earlier Nifty below 15219 is ready for correction.
Yesterday Nifty closed below 15219 and today it corrected another 90 points and more.
Levels marked as per the fib retracement. Do not be bullish till Nifty closes above 15219.
Stay aligned with Market. If it is correcting then let it correct and you stay bearish. Once it is done we will turn bullish after confirmation. Till then lets enjoy the phase.
Stay awake and Stay cautious.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
Note
Nifty is near the middle line. Hence a strong support is expected. Let's see how tomorrow market behaves based on it we will take decision.
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