As mentioned in my earlier blog also that the Nifty and the Sensex both are trading in the overbought zone and we might see some correction. Nifty on 27th sep 2010 made a high of 6073. but closed at 6035. The Small inverted hammer like pattern had been created on that day. Since last 2 days Indian markets had been in correction mode. On wednesday Nifty closed below 6000 mark at 5984 levels. Nifty close below the 5959 will take the Nifty at 5885 levels. In my earlier article I had mentioned that the Nifty and Sensex are trading in overbought zone. Rsi is been trading at a similar highs which we had seen before the 2008 crash. Today MACD is on the verge of giving negative divergence. but the confirmation will come only after the tommorrows trading session.