Nifty has crossed 10784 decisively and closed at 10806. Bank nifty gaining substantially and closed above 25400 indicates further momentum upwards.
It all looks like Nifty likely to touch 10860 and BNF 26600 and it is necessary to be extremely cautious at this point.
Crude oil prices soaring high, Rupee weakening against Dollar are the initial signs of weakness. Especially crude prices is a big worry for US Market as of now.
Be ready for a time bound correction! Be light in your long positions. Book partial profits. Wait for right time to enter in to PEs.
Happy Trading!
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