NIFTY has crossed 11,171 which was previous high formed in January 2018 but this time our indicator has spiked like previous thus, we do not believe its going to see a drastic fall but some initial bear bubble formation has taken place . We believe it is important to have initiate some profit booking in large caps. Big trigger for this spike was GST council decision of rate rationalisation and voting pattern of No- Confidence Motion which seems to be played out.
Hence , we believe some profit booking to take place before another movement comes.