Medium Term Trend: ↑ UP (Changes to down below 11770)
Finding its Feet: Nifty opened flattish but remained steady and inched up all the way to 11270 levels and added 70 points.
In the last post we had mentioned that there is a possibility that Nifty slips all the way to 12050 12k levels, however real danger will come only once this level is taken out.
Nifty was making a new low everyday but it broke the trend in previous session and didnt break the low it had creates previous day. Now today(24th), it went a step further and created a new high as well. This and the way charts are shaping up, suggests that market can try make another dash towards higher level( therefore one is advised against being on the short side for now). Next week is budget week so volatility is expected to be high.
Overall trend of the market was always up but there was a threat building up for the short term which for now, it seems, has been subdued by bulls. Bears had a good opportunity to deal a good blow but bulls have again wrested the initiative.
From a trading perspective, we had booked profits in our long position around 12300+ levels and even created some shorts at those levels and profit booked below 12100 levels. Will be posting the detailed messages shared very soon.
We keep guiding and advising our subscribers during live trading hours through regular whatsapp updates. To join us please click the below link/button or mail to rahulrtn412@yahoo.com or whatsapp:9319321906 (Pls don't call or send text for mkt view/opinion as we will not be able to respond to such msgs)
In the last post we had mentioned that there is a possibility that Nifty slips all the way to 12050 12k levels, however real danger will come only once this level is taken out.
Nifty was making a new low everyday but it broke the trend in previous session and didnt break the low it had creates previous day. Now today(24th), it went a step further and created a new high as well. This and the way charts are shaping up, suggests that market can try make another dash towards higher level( therefore one is advised against being on the short side for now). Next week is budget week so volatility is expected to be high.
Overall trend of the market was always up but there was a threat building up for the short term which for now, it seems, has been subdued by bulls. Bears had a good opportunity to deal a good blow but bulls have again wrested the initiative.
From a trading perspective, we had booked profits in our long position around 12300+ levels and even created some shorts at those levels and profit booked below 12100 levels. Will be posting the detailed messages shared very soon.
Happy Trading!
We keep guiding and advising our subscribers during live trading hours through regular whatsapp updates. To join us please click the below link/button or mail to rahulrtn412@yahoo.com or whatsapp:9319321906 (Pls don't call or send text for mkt view/opinion as we will not be able to respond to such msgs)
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