Nifty Weekly Update - 3

NS slowly and steadily crossed the ATH and made new high. This slow & steady rise can be termed as a trending pattern.
Looking at the daily, weekly and monthly time frames NS is heading for 11600 before it makes a sideways move marked
in the daily charts with circles and posted here a few days ago. The stochastic is above 80 and it can give gap ups until
it touches 100 and retreat 100-150 points or make sideways movement with downward bias (the 2nd circle in red). Once
it reaches 11900-1200 area (when the stochastic falls below 80) a correction of 7 to 8% can be a probability.