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 expected, bears did take a beating, but exactly at the eleventh hour of the expiration.
I have raised my mental stop for the Nifty at 3918, which level saw support. I expect the Nifty to test 3974 level mildly, and then react downward again. 3980 could be a good level where we may see short term resistance.
This is not a suggestion to short at 3980, only a suggestion to monitor that level. If that level is achieved, then a higher top would have been made, and would allow the bull run to be intact.
As expected, bears did take a beating, but exactly at the eleventh hour of the expiration.
I have raised my mental stop for the Nifty at 3918, which level saw support. I expect the Nifty to test 3974 level mildly, and then react downward again. 3980 could be a good level where we may see short term resistance.
This is not a suggestion to short at 3980, only a suggestion to monitor that level. If that level is achieved, then a higher top would have been made, and would allow the bull run to be intact.
1 comment:
sirji ! its 11.25 on dec 1 rite now and ur 3980 is tested (3983 now, and it looks like profit taking is going to come now !!
wow !
ketan
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