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.There is absolutely no change in the observations of yesterday. The earlier short term top is marked as the attacking point for the bears.
We had seen good profit booking coming along the ~5400 levels. The previous swing bottom ~5070 could be closely watched for weakness. If that holds, then we could continue to buy on dips.
The market was showing volatility mixed with mild strength overall till yesterday. Today the scene seems to have changed.
Therefore, we could now wait for buying. Stop losses may be strictly adhered to, to preserve capital. Please do not forget the fact that tomorrow is the weekend, and we may see a sharp spurt up, due to short covering.
Trade happy after planning your trade.
1 comment:
Sirji, generally international mkts get shorted before weekends, esp the long ones, why then in our mkts, we might see short covering before a weekend ?!
reg
ketan
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