Nifty is going into a time bound correction which may continue for couple of days . As mentioned in the previous blog Nifty’s first support level is 11828 . and Nifty making low of 11843.35 and bouncing back to the levels of 11911.70 doing perfectly as mentioned buy in the lower support levels and book profit in the upper ranges .
Nifty in candlestick chart forming Doji for the last two days which shows indecisive. As there are negative divergences in the intraday charts of Nifty book profit in the upper ranges at 11945 to 11996.
On the other side if Nifty breaks yesterday’s low of 11843 it may continue the correction to the level of 11714 to 11688 . these are the next support levels where demand in the market may come again.