Nifty is about to puke

If you look closely the entire movement of 1150 points (10600@28June to 11750@31Aug) took 2 months (20 points per day on an average) and that is how trend should be. However, if we see at the present market, Nifty is moving 100+ points on daily basis which is impossible to sustain. At present thrust what we are seeing is just overoptimistic sentiments (exit poll, strong Asian market, Rupee strengthening, Brexit etc.) in addition to that few traders thinking of that they have missed the opportunity and entering now resulting into panic buying.
All the indicators are shouting short, the market is oversold.
As per my analysis, NIFTY will touch 11366 retracement level and start falling from that level.
Trading recommendation:
Who all are holding long, slowly exit your position within a day or two at max.
Who has no position at present slowly build short position (opportunistic buying)
and those who are holding short position hold for 2-3 more days, trust me you will be rewarded.
and those who think they are smarter than the market and thinking that when the market will start dropping then they will buy then you are wrong upcoming move will be such strong you won't get any time to enter and the market will sideline you.

Comment:

Nifty has made higher high today but its lagged in momentum. It seems the market is tired now. As suggested Nifty can go at max to 11366-11387 region not more than that. Time wise also Nifty is bound to reverse its trend.

Just for thought: When nifty was trading at 11750 in Aug the P/E was 28 and right now at 11340 P/E is at 27.7 this exactly what I am trying to refer that market is too expensive, even FIIs won't pump more money.
Trading recommendation: Tomorrow is the best day to bagged in some PUTs and enjoy the downward trend.