Nifty today closed 98 points below Friday close and that too on the first trading day in September and on the first day of the week. All these above points are valid for us to conclude that 11760 is the top level for the next few months. Nifty is almost 5-6% above previous high to initiate correction ( 11185-11760). The rally started from June 29th has ended on August 31.
For nifty down side target for September is 11391/11300. It is just 460 points down from 11760. Still more to come.
Ye Dhil Maange More!!!!
Bank nifty also pared all gains and closed near 27800. Next immediate target for bank nifty is 27650/27500. It is likely to reach 27327 from where it started its journey in August.
Don't be long in this market. Nifty wont recover throughout this month.
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