The upmove in the last week has chisled ,all the bears in the market.. almost,every one are short in the markets.. (even myself for a time being ,, i shorted nifty at 4330 and covered wth sl 4347). I knw very welll,, there are some fresh shorts made in the markets on friday at high 4390 levels... .. The pull back in nifty at 4100 to present level is like a rocket,, and didnt gave a chance or time to makeup the mindset frm bearish to bullish. Now, the markets are moving wth strength,, every one are bit confused wht to do...whether to buy or sell???
Hold all ur buys with sl 4305
Hold all ur shorts wth sl 4450
The coming session is likely to witness a range of 4300 on advances. Support is likely at 4170 on declines, below which the 4140 maybe possible. The bullish pivot for the session will be at the 4270 and the bearish pivot at the 4240 levels. Traders need to watch the activity beyond these thresholds respectively for intraday guidance.
The market internals indicate a higher turnover due to the distribution at higher levels. The number of trades were higher and the average ticket size per trade was higher, indicating a strong selling bias. The capitalisation of the market was marginally higher in line with a profit taking session. The f&o cues show the bears pressing fresh shorts on the Nifty, indicating some more possible supply.
The outlook for the markets today is that of caution and overseas cues may curb buying momentum...
Hold all ur buys with sl 4305
Hold all ur shorts wth sl 4450
The coming session is likely to witness a range of 4300 on advances. Support is likely at 4170 on declines, below which the 4140 maybe possible. The bullish pivot for the session will be at the 4270 and the bearish pivot at the 4240 levels. Traders need to watch the activity beyond these thresholds respectively for intraday guidance.
The market internals indicate a higher turnover due to the distribution at higher levels. The number of trades were higher and the average ticket size per trade was higher, indicating a strong selling bias. The capitalisation of the market was marginally higher in line with a profit taking session. The f&o cues show the bears pressing fresh shorts on the Nifty, indicating some more possible supply.
The outlook for the markets today is that of caution and overseas cues may curb buying momentum...
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