These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
The volatility is increasing. The Nifty has just encountered another resistance overhead. Normally, on the weekend, positions are closed, so it is quite probable that bears could have exited in the last half hour, giving rise to the Nifty.
I had expected the downside to continue on Friday too, but that did not happen.
I am still of the opinion that we should see one more round of selling. 3770 would be a good level for us to gauge the short term trend. A break on the downside would be a good indicator that the short term trend is indeed down.
Trade happy.
The volatility is increasing. The Nifty has just encountered another resistance overhead. Normally, on the weekend, positions are closed, so it is quite probable that bears could have exited in the last half hour, giving rise to the Nifty.
I had expected the downside to continue on Friday too, but that did not happen.
I am still of the opinion that we should see one more round of selling. 3770 would be a good level for us to gauge the short term trend. A break on the downside would be a good indicator that the short term trend is indeed down.
Trade happy.
