Warning bells ringing! Is it time for investors to go short on Nifty?
Warning bells ringing! Is it time for investors to go short on Nifty?
After a sharp rally seen in August when index rallied over 2 percent, experts feel that we might have made an intermediate top at 11,760 and there is a higher probability that in the near term index moves lower towards 11,300 levels.
The Nifty which broke below 11,600 recently is poised to go down further toward 11,300 going by commentary from top technical experts tracking the index.
In terms of the wave structure, the last leg of an Impulse structure on the upside seems to be over at today’s high with a truncation. The short-term momentum indicator has also triggered bearish crossover on Monday. Thus the index now looks poised for a dip towards 11300
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The Nifty which broke below 11,600 recently is poised to go down further toward , This line was awesome
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