NIFTY is currently getting rejected from the level that formed due to a confluence of 0.382 level of Fib and the center of the parallel channel.
It will be interesting to monitor price action for few days to see if rejection continues or it breaks and goes above it.
Pice went above the green box but I am still on the sidelines and did not enter a long.
The reason being the volume. The volume is decreasing.
I would love to see the volume bar at least touch the average volume line.
If there is no volume then the move up will not sustain.
