Good Morning Friends,
Looking on to daily Nifty chart, we can say that possible threat of fall has saved. Take a note that it has never closed below 15600 level. Surely, it has broken during the day of fall but saved. On expiry day too it has moved higher.
If I make a study on last four candle (which are of this week), it is giving edge to bulls. As long as Nifty staying above 15600, there will be denial of fall. More than that as long as it is above 15300, trend is still up. These fall are just small pull back.
Here is a big question, can Nifty hit 16000? My answer is yes but when and after how much correction. I do not have answer. Market has to answer this question. Do not prefer heavy shorting.
Happy Trading,
