Nifty update

Today I would like to discuss about Nifty Index, I can see some fatigue in market and index seems to be in a lasting uptrend or slightly over brought.

Last year from June 2018 Nifty had a great bull run from 10,650 to 11,740 (1090 points). Nifty is on a similar run now,from 10,700 to 11,350 (650 points).

There might be some profit booking which might take Nifty to 11,150, if this level is broken Nifty might head towards 10,900.

Alternately if Nifty closes above 11,420 we might see Nifty scaling upto 11,600.

Recommendation :

Short Nifty around : 11,350

Stop loss of : 11,420

First target : 11,150

Second : 10,900