NIFTY50 : Short towards sub 9000 levels

robus Updated   
NSE:NIFTY   Nifty 50 Index
I believe we are in secular bull and extension of 5 of V of (5) would do around 12000 before any major trend change, yet I believe we are overbought on current levels and some profit booking is due which pull index in region of 9000-8900 levels close to 38% retrace. Yesterday , Global Index got slaughtered , expect nifty to open weak.

Trade your own strategy.
Good Luck.
Wait for bear flag after TL break and Re-short. Daily and Weekly structures both points towards massive consolidation. good luck

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.