Nifty needs a breather.
A trend change can be a
1: Movement stopping its trajectory and moving sideways.
2. Trend Reversal with lower highs or lower lows (in this case)
Confirmation would be a lower high and a breach of support which has already happened towards the last hour of trading on Expiry Day, Nov 17.
The correction could give a retracement to 17700-800 levels.
Monthly Expiry on these levels look scrumptious and delicious.
Movement towards and/or breaching the high would now come into "FOMO" category, without a retracement. or just plain sideways movement for the rest of the month.
1: Movement stopping its trajectory and moving sideways.
2. Trend Reversal with lower highs or lower lows (in this case)
Confirmation would be a lower high and a breach of support which has already happened towards the last hour of trading on Expiry Day, Nov 17.
The correction could give a retracement to 17700-800 levels.
Monthly Expiry on these levels look scrumptious and delicious.
Movement towards and/or breaching the high would now come into "FOMO" category, without a retracement. or just plain sideways movement for the rest of the month.
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