Last week Nifty had a classic doji on weekly chart. It failed to cross previous week's high of 10078 levels. Banknifty also created Doji candle on weekly chart. (However it crossed previous week's high by few points!)
Trade set up - Short positions can be created with the stop loss of 10080 - 11000 levels. Fresh longs can only be initiated only above the given levels.
I do have a short position, but still nifty is going UP. Any particular reason you are aware off.
nirav5
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@ArunangshuDas, Turn by turn heavyweights of nifty are pulling the market. Earlier Reliance, TCS, HDFC and HDFCbank were participating. Now ITC, icicibank, SBI and Maruti are contributing.
It's best to follow trade setups with stop loss and targets in mind. I think nifty can still go up as it went above 11080 level.
It can test previous high of around 11180.