NIFTY (W) Nifty has been galloping at a fast pace over the past few days . The steady support offered by the lower channle of the Pitchfork does augur well for the broader idex as a whole. However we note that the rise has now tread into 1.618 of the recent pullback and hence some profit booking may emerge. The best approach hence would be to book some profits if the Nifty does not hold the first 30 minute range for the day. WHile the prices are heading higher the momentum is heading lower thus cautioning us for the trends ahead. An interesting time in Nifty is unfolding in November.
