Market at crucial Juncture. 11945-11981 is Trend Deciding level.
Nifty updated Wave Count indicating that nifty is at important juncture.
At present, nifty in process of completing larger degree wave 3.
11945-11981 crucial resistance level to watch this week.
There is two possible scenarios here.
i) 11945-11981 acts as stiff resistance and prices moves down to break 11700, which is very crucial supporting trendline for Bulls, below which Bears get strength.
ii) if bulls got enough steam, prices moves above 11945-11981 resistance zone, above which next upside target level is 12300.
On Technical indicators point of View, Monthly charts in Negative Divergence and in Sell Mode, Weekly charts too in negative divergence and at crucial trend deciding zone.
Daily and Hourly time frame indicating overbought zone.
Hence, Watch 11945-11981 resistance levels On Monday and trade accordingly.