The index made a narrow range candle. The action does not have volumes. The RSI is banging itself on the bear extreme levels. The time cycles are active as of now. A move below 10580 can be dangerous for the index and Nifty may start correcting again.
However if the levels are saved Nifty has high chances to move up to 10730 and 10800 levels.
BXTrender shows Bearish Divergence,
but it should not be considered as a full proof short signal. A close below 10530 will be decider.
Bharat Jhunjhunwala MFTA, CMT, CFTe, MSTA