Nifty | Distribution of Consolidation | 14000 Vs 11600

NSE:NIFTY   Nifty 50 Index
Nifty could hold on to the gains of today but couldn't seem to breach and hold previous Highs of 12960.

This could very well mean distribution at higher level for an impending fast correction. Especially when we are already seeing bank nifty getting weak.

Reliance and IT were main contributories to this movement but both the counters look to retreat and take nifty below.

Look for closing below this level and you can initiate shorts for targets of 12,400 | 12,150 | 11,600 in the month of December.


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