Nifty managed to move above 78.6% retracment of move from 11171 to 9951 which is 10910 and also the Karnataka election day high which is 10929.
If nifty manages to cross recent top of 11078 which i believe will definitely then next logical targets can be 11171 (all time high) and then 11244. But for this expiry i will bet only on 11171 or near about.
In next expiry we will check again where Nifty is likely to go.
Now another observation on weekly charts. The break out above shown trend line gives maximum technical target of 13000. But when that level will come i do not know. At present i am not counting this pattern and just want to concentrate on short term target of 11171.
Disclosure: I am not a SEBI certified analyst and this is not a trading recommendation this is just an observation. Further i do not hold any position in Nifty futures but holding some options.
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