Ticker

Wednesday, January 1, 2014

NIFTY



NIFTY has closed at 6358.15. It is a small red bar with 0.01 % down. This is a fourth consecutive day in row it has given a flat close. A gap up opening on 27-12-2013 and then consistently flat closing is indicating something is cooking. Moreover, it is a double inside bar kind of pattern, which might lead to an explosive move ( any direction ). NIFTY is not
confirming any trend as of now, and market is witnessing stock specific moves. There is a question mark although, how much it will sustain without a favorable movement in NIFTY. So we have to keep our bias positive, trade long, place strict Stop Losses and go with the trend.



No comments:

Post a Comment