Nifty has come a long way from lows of March /April but I my opinion it is just a correction before next leg down .
As one can see clear direction of idolise legs on longer timeframe .Fundamentally as well nifty has gone too far to last but that’s how bear market rally works and is more mix of short covering and fear of missing out .short term chart candles clearly indicate that as candle are a good indication of price action .Nifty need a one more deep leg down or retest previous lows rest will update from there If I am right .I will be looking to sell at every level gap fill from march will be good level.
my personel view .
As one can see clear direction of idolise legs on longer timeframe .Fundamentally as well nifty has gone too far to last but that’s how bear market rally works and is more mix of short covering and fear of missing out .short term chart candles clearly indicate that as candle are a good indication of price action .Nifty need a one more deep leg down or retest previous lows rest will update from there If I am right .I will be looking to sell at every level gap fill from march will be good level.
my personel view .
GoldenBull Trading Desk