Good Morning Friends,
What has happened yesterday in final hour was basically a result of some less participation at higher levels. Still, have a look at above hourly chart of Nifty. We can still have an upward channel and this reflects the main trend.
I must ass that 15800 level which was an impulsive top few days back is now a support. At least, as long as 15800 holds, this trend is intact even for trading.
If anyone is in search for pin point top to short can guess any levels but it can never be wise shorting on anticipation. Short signal cannot and can never come at top. This is what's basics of technical suggests.
As long as 15800 holds, I have a hope for 16000.
Let us see todays deal,
Happy Trading,
Praveen Kumar
