Nifty analysis for 10/06/19

In last week nifty posted all time high of 12103 and then got corrected to 11769. Friday's candle is lower long legged dojji which indicates that at day's low heavy buying took place. In our #share #analysis #software the short term indication is sell. So to confirm further up move we should get buy signal. Secondly there is total gain of 995 points in last up move. If we consider 38.1% correction then nifty value comes out to be 11723 and nifty has posted low of 11769. So it is better to wait for buy signal on EOD basis (end of the day) before we take further long position.