Nifty looks good to short at current lvls, keeping 12901 as stoploss for targets of 12500, 12200 n 12000, won't be surprised if breaks 12000 and falls further. And Nifty PE is trading at all time high @34.5.
Trade closed: stop reached:
Stop loss hit.. But still expecting the correction in nifty after touching 13400
@ckirtane, There are so many other factors were markets should have a correction in near by short term, Nifty PE Ratio is just one of them, The Q2 GDP numbers will be out next week, those numbers can have change the market trend, hopefully...