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Downside target 11265 almost achieved today. Pull back rally due.

Nifty wave3 target approx 11265 achieved today. Day low 11270.
From here, we can expect minor pull back rally in the form of wave 4 bounce possible today.
Avoid fresh short selling.
Bulls can step in at current levels and push market upward.
Short sellers can  cover short sell positions as any time we may witness sharp short covering rally.
Keep stoploss 11200 for long positions. Upward target can be 11370-11400.
Initiate long positions with strict stoploss.
Regards,
Suryadev Bandari
Research Analyst


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