Good morning friends,
I was expecting this rebound and caution too. Fed has given its view for tempering and interest rate. You all must be knowing so far. I am here to give technical views and market dynamics.
Somehow, it is looking to move up but up move will face troubles at top. Only question is that if it get trouble near 17800.
I am not advising short by looking in to pattern. Today is derivative expiry and market is likely to go up and if downside comes that will be a surprise.
I am not getting great conviction that we made a short term top. In pure technical term, as long as Nifty is staying above 17200, rise is likely to continue.
Worse part is that whenever Nifty takes gap opening. It spoil majority of trade. Nifty can open around 17650 as indicated by Nifty then fresh long may not be possible.
Happy Tradaing.
