The Market is Ready for Profit Booking?

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The market is hitting back-to-back punches to lifetime highs and celebrating like Diwali. Everyone is happy to see this market and earning money as well. But we have to keep in mind bears are there and they can take handover anytime. If we see the chart, the market has shown a good rally from 15900 to 17900 with small corrections.In the chart, has spent many days in a range of 15600-15900 then given breakout. The bullish candles were big in comparison to bearish candles that means every dip was showing buying. However, the Nifty chart is overstretched, and RSI is in the overbought zone from the last month. If we look at the large caps, almost all are overbought. No one is ready for profit booking. As per my study, I am expecting one more dip in the next week until 17600 i.e., day support and resistance is around 18000. The 17600 is the right location to go long in index or stocks.The has recently touched to its lifetime highs and fallen from the same. If we look at the dail
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