Update (08:10AM): Nifty again likely to open with a gap down today and below its support area of 10750. Since its a second consecutive gap down the opening rates becomes crucial today. If mkt is trading below its opening low after 9:45 (30 mins) then we exit else hold on. Trading weak below its opening price will be negative for Nifty. However overall trend still remains up for Nifty.
Update 09:55 AM Nifty spot 10665 Not able to sustain above the opening lows (opening price is 10670-10700) and momentum is increasing on the downside however on short term chart indicators are suggesting nifty is in oversold territory. Hold on to your longs for now. Will keep updating. Need a sharp recovery from here soon.
Update (12:35 PM): Nifty spot 10665 Nifty is maintaining a trajectory below opening price ( that is definitely a negative sign). Next couple of hours (second half of the trading) is very crucial as it will decide the trend of Nifty going forward. Hold on to longs need to see how the second half is shaping up before taking a decision
UPdate 2.25PM : Nifty spot 10630 Exit longs. momentum is building on the downside. pls exit all longs
Update 09:55 AM Nifty spot 10665 Not able to sustain above the opening lows (opening price is 10670-10700) and momentum is increasing on the downside however on short term chart indicators are suggesting nifty is in oversold territory. Hold on to your longs for now. Will keep updating. Need a sharp recovery from here soon.
Update (12:35 PM): Nifty spot 10665 Nifty is maintaining a trajectory below opening price ( that is definitely a negative sign). Next couple of hours (second half of the trading) is very crucial as it will decide the trend of Nifty going forward. Hold on to longs need to see how the second half is shaping up before taking a decision
UPdate 2.25PM : Nifty spot 10630 Exit longs. momentum is building on the downside. pls exit all longs
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