Nifty: Correction likely to end in next couple of days. Watch 7890 on closing basis.
Good Morning All!
It's been a long wait for the correction to end. We had called for 10% - 15% correction and it was during that time, Nifty was reluctant to drift lower. Now the situation has changed drastically; wherein everyone is in a panic mode. If things were to be analysed and believe, we are going to see a bottom in place in next few days. The up-trend that was in place since March is most likely to resume in the new expiry series of December.
Once you find Nifty closer to 7900, buy 7900 DEC Call with a closing SL on Nifty spot below 7890 - 7880. 7890 holds the key to determine the future course of action.
Praveen Pathiyil
