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NIFTY || HOW MUCH FURTHER BEFORE IT TAKES A BREATHER ?

NSE:NIFTY   Nifty 50 Index
Nifty closed at 11301 on Tuesday with a 78.6% retracement level of the move from 11760 to 10004 placed approximately near 11385. The Rsi has hit the overbought region. The midcap index reversed from the resistance zone of 4950-4985. With a strong close on Tuesday , another round of bullish move is on the cards. Question is how much would Nifty move before it turns around. Would it hit 11385 before it turns around and takes a breather or would the pre election rally take it beyond 11500 ?

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