Now we have a few more days data came in and the updated chart looks like this one below.
As we can see in the top part, between 18th Oct and 1st Nov the NIFTY has been trading in a narrow range between 8600-8700 (on closing basis). However the Smart Money Tracker (SMT) in the bottom part is quite biased to the downside which has made one lower low and another one is probably on the way of forming. We may expect further downside from the current level unless there is any BULLISH DIVERGENCE formed in the next few days. Till then let us watch the market.
