NIFTY
has closed at 7480.15. NIFTY moved exactly as we have guessed it. Bounce of the
NIFTY was a remote chance and it did don’t as we have stated. And as we were
posting since long, that no longs must be hold after the breach and close below
7530. NIFTY closed well below that. So as we have stated, we have exited all
the longs in NIFTY. Hope even the readers also have taken the steps to protect
the profits from longs in NIFTY. Like we said even in earlier posts, no fresh
trade is recommended, sitting aside is a better options rather going for short
selling at this juncture. Any great signal for short selling opportunity will
be definitely discussed here, as and when it will be generated.
We might
see a small dead cat bounce, which can make a lower top and then start coming down
again. Well, these are the assumptions, but one thing is for sure
that a small
correction is on the way. The intensity is not clear but at least buying is
advisable only and only ABOVE the close of 7770. Not till then. The way NIFTY
has come down in last five days, surely suggests a healthy correction. A short
position in NIFTY must be initiated by only professional traders and that too
with utmost care and strict Stop Loss.
So one
must not hold any long in NIFTY and stocks as well. Simultaneously short
selling opportunities will also be discussed and suggested to the subscribers. Some
strategies and short selling recommendations will be discussed here on the blog
also. Keep watching for further updating. In case the market moves wildly, some
intraday moves and suggestions will also be discussed. Till then, take care and
trade safe.
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