1. Psychological 11K fails to provide any support as the benchmark Nifty breaks through effortlessly to settle at 10,800.
2. Considering the underlying momentum with which the index is selling off, it is very likely that a re-test of (10,500-10,600) is on the cards.
3. Expect some price-momentum divergence to start shaping up as the index approaches 10,600.
4. Strategically short traders should keep trailing stop loss to protect open profits and start to book partially from current price and -200 point further down.
5. Long only traders should show some patience and wait for at least the first sign of selling exhaustion
2. Considering the underlying momentum with which the index is selling off, it is very likely that a re-test of (10,500-10,600) is on the cards.
3. Expect some price-momentum divergence to start shaping up as the index approaches 10,600.
4. Strategically short traders should keep trailing stop loss to protect open profits and start to book partially from current price and -200 point further down.
5. Long only traders should show some patience and wait for at least the first sign of selling exhaustion
Trade Well. Trade Wise.
Whatsapp - wa.me/919836947400
Whatsapp - wa.me/919836947400