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 Nifty has finally made a new historical high, as anticipated. It is natural to expect that we witness profit booking, as was warned yesterday. This would allow bulls to exit prematurely, and allow the stronger hands to pick up stock at lower levels.
The Bank Nifty continues trading weak, and the CNXIT also witnessed profit booking, again as expected. As a result, we saw weakness in the Nifty also. It could have been a good time to lock in profits at this stage.
We could continue to see some more weakness during this weekend, as most players like to keep light positions over the weekend. The trend could resume upwards from Tuesday.
3 comments:
Thanks sirji ! However, this month may close negative also no ?? since last 8 months, we have been closing positive !!??
reg
ketan
Are we in for a wedge breakout - on the upside? What do you think Sir
Each one has their own way of looking at the charts. It all depends on how they trade it.
I am already posting my daily views, and you must have noticed that I am leaning towards the bullish side.
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