Nifty Futures quick flip system ended positively with an extreme sentiment which brings the odds of possible short term correction. Nifty Futures went one way in the second half of the trading session rallying almost 180 points from the noon low.
First half of the day is dominated by low volumes with slow price drips followed by more momentum traders chasing the price in the second half with strong volume.
Extreme sentiment indicates caution and at times it attracts short term price correction. Any weakness could bring NF towards 11430 levels. Breaking 11430 could bring more bearishness towards Monday low of 11337 levels.
Trading Sentiment is currently holding negative for the third trading session since last Friday. For any strength, Nifty has to hold above 11480 levels. Failing to hold above 11480 levels bring more weakness towards 11430 and 11337 levels.