Nifty as per our analysis have crossed 11000 mark today – which we clearly stated in the article on 18-Dec-2017 After the Gujarat elections that Nifty will cross the 11000 mark so be on buy side.
Now, as per the current chart analysis of Nifty is concerned it looks like Nifty has touched the highest peak and now we can expect some correction from these levels. At the same time, We are equally skeptical about the levels Nifty can touch which is 11500-11600.
After looking at all the perspectives, and doing a thorough chart analysis – we are getting a big downside for Nifty in coming days. Big profit booking can occur from these levels.
So, the trend for nifty in coming days is down with only upside that it can touch is 11200. Therefore, it is obviously recommended to book your profits at the current levels and stay in cash.