Good morning Friends,
Above is 15 minutes of Nifty. Do not be surprise by seeing pattern. I have a purpose of posting such chart as reversal is better appearing on above chart. You can notice that this reversal is coming after a reversal H&S pattern.
Most of secular trend from bottom yesterday was outcome of above pattern.
Big question, can this continue today?
For today: - Well, most logical target that is looking based on chart is 17625.
Support is at 17440 and that's keep us mid way. So it is going to be volatile. Expect up and down but I will give edge to bulls.
Short term outlook : - It is looking like this market came lower to go up in short term and hence 17792 may not be final top. Who knows if Nifty go around 19000 also before decisive top. I just do not want to think what can be stock valuation. I am not in the mood to invest as I am also scared on fundamental uncertainty.
Happy Trading.
Market may remains sidewise for few days
