Bears likely to take charge of D-St if Nifty breaks below 16,500 in October series: Sujit Deodhar

“Right now, if we see the weekly charts of Nifty, the index has not broken its high of 18,114 levels to confirm that it has started the higher top higher bottom series to form a view of buy on dips. Though the broader markets and the market breadth have been strong in this up move from 15,191-18,096. So, from Bank nifty & midcaps perspective, both the indices have taken out their previous swing tops & there buy on dips can be done.”