Update 10:27 AM: Nifty CMP 10858- Sell
We have been expecting nifty to make a top around this area ( like mentioned in yesterdays post)
Note: Spot prices mentioned
Update 11:30 AM: Nifty CMP 10835- Please note nifty has not yet given any crossover sell confirmation yet ( inspite of this 100+ point fall today). Short call is merely on the basis I have been mentioning in my posts. We carry shorts if trade is moving in line with expectations or we exit ( like we did yesterday). So it could be slightly risky as we are trying to call out a top in markets (something which one rarely gets right). Overall trend of the market changes to down only when 10700-10720 range is taken out.
so just to reiterate, I see a strong possibility of a reversal hence these short calls. Once I get confirmed signal then we will initiate more trades (if you want you may wait for confirmation).
Update 2:25PM: Nifty CMP 10770 - Hold shorts for now. Will update if anything has to be done. So far trade is moving in line with my expectations. (less Risky traders might want to book part profit)
Update 3:15PM: Nifty CMP 10740 - Carry Short for next week (less risky traders can book profits)
Enjoy and have a nice weekend. Trade well, Trade wisely.
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