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Market's at Short term Peak. Vulnerable to correction soon. Be alert.

 Nifty cmp 11990. day high 12022. Day low 11968. as of 9.56 a.m

As shown in chart, nifty at final stages of trend maturity. Probable reversal zone is at 11850-11800 but it over thrown a bit above 12000, common characteristic in Ending Diagonal pattern. Very soon nifty can witness profit booking. Hence, as far as possible book profits in long positions or atleast keep strict stoploss to long positions. As per the chart pattern, deeper correction ahead in coming sessions.

Key levels to watch 11900 below bearish confirmation. 

Resistance placed between 12040-12080 zone.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com


 

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