The intensity with which the markets have moved in the last few sessions and also the way it is standing at the year high certainly gives an uneasy feeling of acrophobia.
The volumes have been decreasing everyday and it is certainly telling a story that this market is going to correct significantly soon.
It is again becoming tough for both bulls and bears to take a position at this stage as bears have been completely trapped in this run up, both intraday and also end of day and the run up has been sharp for bulls to charge further.
Nifty might test some higher levels also before the significant correction and so it is better to wait and watch now.
Resistance levels : 4739, 4767, 4816
Support levels : 4680, 4659, 4630
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Happy Trading
www.tripleint.com
www.tripleint.com
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