NIFTY's upmove in the last session came with very low volumes than that seen a day before. Given the fact that NIFTY could not retest the 3717 levels and also the rise is with low volumes brings suspicion as to this move being totally to trap the last of the last bulls and that too yesterday's close being the highest in the series.
The way market is being held at higher levels with low volumes point to the fact that it has to crash due to its own weight and that the due is very near.
All this points to the fact that this bull rally that we saw in the short term is nearing its peak and as mentioned in the previous post it is sell on every rise with 3795 being the stop.
Resistance levels : 3708, 3780
Support levels : 3665, 3630, 3595
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Happy Trading
www.tripleint.com
www.tripleint.com
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