Nifty reversing from previous high level. Possibly major trend reversal has begun.

Nifty tested 12038 today in opening but due to lack of follow up buying it fell nearly 100 points from day high. One close below 11840 would confirm major trend reversal.
Be cautious on holding long positions.
In Elliott Wave principle point of view, major correction can begin any time. Stay alert.
Regards,
Suryadrv Bandari
Research Analyst

Sent from my iPhone

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