Nifty: Cyclical short opportunity.

Nifty has just been rejected on the 11,760 1M Resistance after a relentless bullish run since mid February. It appears that since March 2018 the index follows an identical repetitive pattern, within the 11,760 1M Resistance and the 9,960 1M Support. Every time the index has rebounded on the 9,960 1M Support, a 1D Channel Up follows, which practically gives way to the aggressive bull run towards the 11,760 1M Resistance.

We expect a similar price action and our first target is the Gap Fill (eclipse) at 11,180.





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