NIFTY50 : Short towards sub 9000 levels

I believe we are in secular bull and extension of 5 of V of (5) would do around 12000 before any major trend change, yet I believe we are overbought on current levels and some profit booking is due which pull index in region of 9000-8900 levels close to 38% retrace. Yesterday , Global Index got slaughtered , expect nifty to open weak.

Trade your own strategy.
Good Luck.

Kommentera:

Wait for bear flag after TL break and Re-short. Daily and Weekly structures both points towards massive consolidation. good luck