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.As was suggested yesterday, we did see a gap open and intraday fireworks, with a huge amount of bears stops being triggered in the last hour.
The job of the market was to sideline the bears temporarily, which it has done. As a result, we may see some profit booking in the next few days.
Here is one classic example of how an intraday trader would really suffer from heart jitters, but if we step back and see the larger perspective, nothing really has changed. I would now raise my stop to a close below 4554.
From a larger perspective, technically the position remains as a suggestion to buy on dips. We may possibly see some correction for about 200 odd points.
Plan your trades and trade happy.
1 comment:
ur prophecy has finally been fulfilled and how ! its 11.10 and we are down 140 on nifty !
but it was gap down so no time for any profit taking.... will eagerly wait for tomorrows post ! ;-)haha
reg
ketan
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