Nifty Futures
I will become a bear today. The candles in the chart of Nifty Futures are way above the trend-lines. I don't mean to say the the markets will crash or that we will see a fall but I am sure that a correction is due.
Look at it like an airplane. I reaches a certain altitude after the take-off and then corrects itslef to a certain level where it will get some support if the weather goes bad. If you check the chart going back a few months, you will find the the candles have come down to the support trend-line after every bull run and after crossing the resistance trend-line.
Nifty futures have a support at 17500 but the base is at 17000 - 17200 zone.
If you are a swing trader and can take risk, my call will be sell Nifty Futures
CMP: 17900.00
Stop Loss above 18100.00
Targets: 17500.00 and below.
Look at it like an airplane. I reaches a certain altitude after the take-off and then corrects itslef to a certain level where it will get some support if the weather goes bad. If you check the chart going back a few months, you will find the the candles have come down to the support trend-line after every bull run and after crossing the resistance trend-line.
Nifty futures have a support at 17500 but the base is at 17000 - 17200 zone.
If you are a swing trader and can take risk, my call will be sell Nifty Futures
CMP: 17900.00
Stop Loss above 18100.00
Targets: 17500.00 and below.
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