Nifty is at a crucial spot for the month.We have witnessed a strong rally in the first week of October. There has been great buying oppurtunities over the week. It is safe to say that, we can take a backseat for a while as it has touched a crucial price area once again.
If Nifty spot market breaks 11850 with force and sustains above it, we can expect our Indian market to rally more as it will be heading towards 12300-12400. If the price gets rejected strong with heavy volumes at 11850-11900. It is safe to take a backseat as it might take a pullback before the continuation of the rally. Overall we can rely on FII pumping money into our market creating positive semtiments. We might see new highs in the upcoming months. With positive news and positive global data. There will be no stop. Third week of October we will see some consolidation or a pullback for further decision making on the rallies.