NIFTY is making LOWER HIGH LOWER LOW structure . At 11450 -11500 there is a major supply zone and nifty is coming to that level for the first time so it is very likely to face resistance. Also before starting a new leg of downtrend the big players might show a false breakout from the trendline which was also observed before the last leg of fall from 11600-10800 to shake out weak ends from the system so beware . Also another scenario can be a sideways market in the range of 11200 -11500 for few weeks. As US elections approaching. So global markets have to hang up until then .
Also option sellers are not making much because of high volatility . So pace of market can also be halted for the sellers
SO keep a NEGATIVE to SIDEWAYS bias
Also option sellers are not making much because of high volatility . So pace of market can also be halted for the sellers
SO keep a NEGATIVE to SIDEWAYS bias