Last Week was perhaps the most volatile week in a few months time.it did see a very smart rally of 450+ sensex points on Wednesday and than all those gains were quickly got erased in the next two days only.such huge volatily at the top is a sign of topping process.this was clearly indicated in our weekly technical report on 11th and 15th October.
Its been observed that when a last leg of an upmove gets retraced faster –in a lesser time-,it could be a start of a fresh leg on the downside.
Nfty has supports at 6030 level which is the support line of the expanding structure,that we had mentioned in our 15th oct technical view.
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