Nifty: Overbought Time to book Profits
Nifty is now in overbought zone -- The immediate target on upside is 8990 which Nifty might touch by tomorrow.
Other major markets are not moving up i.e. a small correction is on the way !!
MACD & RSI - are overbought
On Wave count : wave 3 of Wave 3 of wave 5 is about to end !! Expect Nifty to once again touch 8720 approx !! And then the Rebound for New Highs of around 9200.
Instead of going short it would better to move out and wait for an opportunity to go long when Nifty corrects.
Other major markets are not moving up i.e. a small correction is on the way !!
MACD & RSI - are overbought
On Wave count : wave 3 of Wave 3 of wave 5 is about to end !! Expect Nifty to once again touch 8720 approx !! And then the Rebound for New Highs of around 9200.
Instead of going short it would better to move out and wait for an opportunity to go long when Nifty corrects.
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