The Nifty 50 index
NIFTY
has a strong resistance at 11,100. The 61.8% retracement of the 11,760 to 10,005 is at 11,085. After the RBI policy meet, the Nifty 50 created a reversal pattern at this critical resistance zone. The initial sign is that this rally is now over and the Nifty 50 index could now head lower. The broader market is already correcting with many stocks now close to their 52 week lows.
NIFTY
has a strong resistance at 11,100. The 61.8% retracement of the 11,760 to 10,005 is at 11,085. After the RBI policy meet, the Nifty 50 created a reversal pattern at this critical resistance zone. The initial sign is that this rally is now over and the Nifty 50 index could now head lower. The broader market is already correcting with many stocks now close to their 52 week lows.