Good morning friends,
Nifty hit the expected levels of 18250 to 18150. It has made a bottom of 18208 yesterday before a pull back.
I studied hourly chart too and found that 18200 may act as support. A bullish market used to respect every support. I am not going to prefer shorting this market unless settle below 18200 levels. On higher side, I see a meaningful resistance at 18340 levels.
18340 looks too far but this is the levels where I can expect a good risk reward ratio for trading on short side.
A big question. Has the top done?
May be not. May be not. We may see consolidation but Nifty has yet to give many sign before call for top.
Happy Trading.
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