It's just a gut feel without any technical backing. If today Nifty make bottom around 11785-11790 and then gives positive close by 20-30 points, then we expect Nifty to hold that bottom till Budget and start up move to post fresh highs. Technically, we need close above 11900 for upmove towards 12100.
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Gut feel is working !!
Nifty came down from 11846 to 11805
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Gut feel tells that Nifty has made bottom of 11798 for the day . Now market should move up towards 11870-11890
Cmp 11618
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Cmp 11718
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Sorry . Cmp 11818
Trade closed: stop reached
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Nifty at 11780.
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Market spiked today and touched 11870. Ohh. Gut feel should have told to wait for 1 day. Bad luck :-)
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11600-11920 looks no trading Zone. Closing on either side should confirm the likely trend. Below 11600 head & shoulder pattern will come into play.for 11150