There is important that last hour will clearly show you for confirmation of downtrend. But, presently short selling has eye on NF, technically.
How should be it confirm?
Answer: Suppose to break below 11040 below, then bull's strength will lose.
Should I take short position here?
Yes but at higher level with stoploss of new nigh.
Firstly ......welcome to trading view community . To answer your query..... we are at a weekly resistance level . if we close above 11200 this week , then we can expect another 200 points on the upside. on the other hand if we fail to take out 11200 this week and there is a bearish reversal pattern on monday, then me might slide back to 10850 level in the shorter term. lastly always remember......the market is always right :)
The market is not in your control but your stoplosses are !!!
@tamilstocks I think you have made an error understanding the question. Let me give you clarification, for short term Nifty will stop move up and start to move down? I hope you understand it. @tamilstocks