Markets have been one-sided in Nifty Futures this week. However, the development of information is quite serious and the market-generated information brings the odds of testing in June 2022 low testing odds.
Last couple of days the markets have been dominated by momentum traders and more crowded momentum traders built the trend. However short-term momentum traders are the ones who dominated the most. Such a crowded momentum trading activity brings the short-term trading inventory from long to too long and the trend is vulnerable to play towards longs.
Though the immediate trend is on the upside. Trend is vulnerable for long liquidation aka profit booking as the market-generated information pile up on the crowded short-term buying activity.
Short-term targets are likely towards 15880, 15700 and the final destination target towards 15200 in this series is a likely odds.
