Nifty looks like will go up after the third touch. Though the breakout of the third touch suggests that it may fall, but the fall was more related with the Yes Bank fall or the FII data was suggesting that there is a bullish bias. In my opinion it will further go up till 12K mark again.
However there is a alternate scenario. If the YesBank mayhem continues and Govt does not decide quickly the bad news coupled with the COVID19 effect will further take to next support line levels to 10200 levels. There is a minor support zone of 10600, but I do not think it will get stopped there
However there is a alternate scenario. If the YesBank mayhem continues and Govt does not decide quickly the bad news coupled with the COVID19 effect will further take to next support line levels to 10200 levels. There is a minor support zone of 10600, but I do not think it will get stopped there