MONTHLY ANALYSIS (DECEMBER)
We have seen Nifty break all time highs and has continued to stay at the highs untill end of November. The big red candle indicates a half or partial profit booking of Bulls for the long positions until now. But it does not necessarily mean a start of a downtrend. The Indian index is still highly Bullish untill it breaks down and closes below 12700 levels for a retracement in Index.
As Nifty seems to hover around all time highs. It is primarily advisable to keep strict stops as the volatility will likely continue until a proper retracement happens.