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 we can see the Index is relentlessly slicing through all the supports. If it carries on further like this, then we may see the intermediate term trend turn down too.
The flip side is that the fall is accompanied with very low volumes. Therefore, as soon as some buying interest comes in we are likely to see a good bounce back up. Till we see such a bounce, and a short term bullish pattern, it is suggested to stay out.
Those among us with slightly shorter term horizons may use a rise to short, keeping tight stops. Any move which is against the trend is generally volatile, and we may find ourselves on the wrong side of the trade.
In volatility, it is always prudent to hedge positions. We have a cycle in time falling during the weekend. Let us see what it brings.
Trade happy after planning your trade.
1 comment:
haha now i understand why u said "wait" for bullish pattern to go long !
all bulls and bears getting slaughtered by these "pigs" ! so to speak !
Post a Comment