NIFTY 50, 1D, RISE AND FALL, CORRECTION IS NEAR

Given:

NIFTY 50 : P/E = 34.73 :(

STOCH RSI = OVERBOUGHT :(

Nifty 50 is currently all time high. :)

Trend-line Resistance is at near 13200 level and also GANN Static level is at 13000 - 13225.

Trend-line support is at near 12460 level

Also noted, there is a support zone at same 12460 level on Weekly time frame, which makes it a strong support level.

MY ANALYSIS :

NIFTY50 may immediately touch 13100 -13200 level and retrace back to near 12460 - 12500 level and then goes up and move in a Channel.

Komen:

NIFTY STILL MOVING IN THE CHANNEL.