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Counter bounce move to finish soon and Selloff resumes.


Nifty bounce from 10800-11170 range has a-b-c counter trend characteristics. This counter trend move in finishing stage. Any time Selloff in market resumes from current levels.
10800 likely to break this time.
Keep booking profits in long positions, if any.
Positional traders can initiate fresh short positions in Nifty for lower targets 10800.
Resistance 11200.
support 11000-10900.
Regards,
Suryadev Bandari
Research Analyst.

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