NIFTY 07 SEPTEMBER 2021 : Nifty should now go in pause mode. 17430 will be decisive resistance.
Good morning Friends,
So the dream run continues on Nifty. Well, but now we can expect Nifty likely to take breather. I see 17430 as immediate resistance. One thing is clear that above 17430, it can hit 17500 levels too.
What is the possibility of price correction?
Fine, it is not easy to make a perfect timing. So far, there is no single technical indication of correction. Only thing that I can say is that it is heavily over bought.
When will it correct?
Sooner but I cannot suggest any timing. So far, it looks like even a negative close is difficult.
One thing is clear, correction will not come with warning sign.
It will come all of sudden, when ever comes.
Support for the day is 17330, below which .... can it really fall without recovery?
Happy Trading,
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