Update - 16th Dec 05.30 PM
Though, Nifty gaped up at the opening, it did not sustain those levels and gave off substantially from the top.
After today's action, Nifty created a Dark Cloud cover Pattern on daily charts which is a Bearish formation, and the earlier short nifty view is intact with stop loss above the highs. The downward move would be accelerated if Nifty sustains below 12040-12000... the targets would be 11940-11850
Cheers!!!
Though, Nifty gaped up at the opening, it did not sustain those levels and gave off substantially from the top.
After today's action, Nifty created a Dark Cloud cover Pattern on daily charts which is a Bearish formation, and the earlier short nifty view is intact with stop loss above the highs. The downward move would be accelerated if Nifty sustains below 12040-12000... the targets would be 11940-11850
Cheers!!!
