Nifty' made a new high and closed above the midpoint of the previous candle formed a failed Dark could cover in daily chart
. A close below the current level will confirm a bearish
move. Indicators are in bullish
zone (ie: over sold) and it can prolong there for any longer time. The negative divergence (lower highs in the indicators) is a concern. Overall, since we assume that we are in a wave 3, can expect a higher target than the current top. Especially in the 3rd top, one must be cautious about many heads and shoulders like iv of 3, then v of 3, then the 4 itself will be a major correction & finally on wave5 completion a Big fall ,is the sequence to follow. Hope that we are in v of wave 3 from 9688.
Nifty' 10104 marked earlier will be the negation point for the above view, and nifty' will have strong support at 10260.
For Mon 20171030
Nifty': 10323.05 Day Pivot: 10334
Above 10341 today’s Resistances are 10352 10369 10387 10398
Below 10305 today’s Supports are 10294 10277 10259 10248
Weekly Pivot: 10271
Weekly above 10374 Nifty’ Resist: will be 10405 10455 10506 10537
Weekly below 10273 Nifty’ Supports will be 10241 10191 10140 10109