After Q3 results market touched it previous high of Jan 2008 on Muhrat Trading Diwali Day, but after it started losing its upward momentum stream. Now looking to current scenario it seems market going to be volatile, and it will face stiff resistance over 6100 to 6380.
I personally don't see market to climb new high soon, but if it did against all odds then surely it will enter to euphoria zone. Looking to valuation nifty is trading over 23 PE, commodity price are rising, interest rate are also on rise and liquidity is still concern for RBI, now if you add global situation to it, picture look bit scary.
Overall market has least resistance at downside.
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