Even though, NIFTY is weak as we
have stated in earlier post / report, it is still hovering around the support
zone of 5970 – 6000. We may bounce a bit as it is pending. Prediction of the
intensity of a bounce might be misleading, so we can assume that a sustained
trade below 5970 and a close below that will be a clear indication to go short
again with a small Stop Loss, which
will be discussed later.
At this point in time we have to be
a bit extra cautious in taking a fresh short in NIFTY rather, we should wait
for a better opportunity to go short from a higher level as our view & bias
is still negative as of now.
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