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 indices continue in the short term bullish pattern. For those among us who have bought, the previous bottom of 5000 becomes important.
As far as the pattern goes, it seems that the rise from ~4450 to 5400 is the upwards correction for the ~1900 points fall in just a fortnight. Therefore, in all probability, we may have another short term down swing. It is also anticipated that the severity of the next downswing may not be as intense as the last week’s.
In such a case, we could use dips to buy.
Slightly longer term traders could continue to keenly watch 4890, and long term traders could monitor the last frontier 4448. I know that the ranges are large, but then it is not everyday, that the indices make a ~10% drop or a ~5% recovery.
Trade happy after planning your trade.
1 comment:
Sirji, by experience, how do u suggest phasing out, say Rs 100 in options over next few days !
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