Nifty might see a mild correction of up to 10450 from current levels because-
1) There are multiple gaps between 10677-10630 and 10450-10490
2)Nifty crossed it 200 EMA @10525 levels in its second attempt 7 sessions ago. It has to come to at least 10500 to retest its 200 EMA
Signs of weakness-
1)Nifty might be going through a distribution phase rather than an accumulation phase. A Head and Shoulder pattern in the making is a clear sign of it.
2)Weakening RSI both on hourly and Daily time frame
1) There are multiple gaps between 10677-10630 and 10450-10490
2)Nifty crossed it 200 EMA @10525 levels in its second attempt 7 sessions ago. It has to come to at least 10500 to retest its 200 EMA
Signs of weakness-
1)Nifty might be going through a distribution phase rather than an accumulation phase. A Head and Shoulder pattern in the making is a clear sign of it.
2)Weakening RSI both on hourly and Daily time frame