Nifty surpriced on the upside, 17000-17050 imp resistance zone

Mar 15, 2022

Markets gave a trending move yesterday, which I was not expecting. As it became clear and markets broke above 16700 we went long and booked decent gains. That is how trading works. Flexibility and agility are very important. Thought looks like markets are about to complete a 5 wave structure, so a pullback is on the cards. Don't forget the context. In the next few days we will know whether this is a start-up of some uptrend or just a relief rally.