Good morning to all of you.
First of all apologies for the delayed gap in the market update. Have been really busy with work. Im gonna try and update as regulary as possible henceforth.
Now getting back to the markets.
Nifty has seen a spectacular upmove to 5900 levels straight from 5400 levels.
After having repeatedly maintained a target of 5900+ since the month of february, nifty finally acheived the target (but not before triggering our stop loss twice) :)
Nifty now is in overbought zone with negative divergences with the trending upmove over. The outlook on the markets now remains negative. SELL ON RISES.
The resistance levels for nifty now come in at 5920, 5950 and 6020.
Markets may move sideways with a lot of whipsaws before breaking down to 5500 levels. So i advise one to short and sit tight with it until the tgt is achieved or the sl is triggered.
Current View : SELL ON RISES.
Final Call???
Sell Nifty at 5920 with tgt of 5450 and sl of 6070
Risk = 150pts Reward = 450pts
First of all apologies for the delayed gap in the market update. Have been really busy with work. Im gonna try and update as regulary as possible henceforth.
Now getting back to the markets.
Nifty has seen a spectacular upmove to 5900 levels straight from 5400 levels.
After having repeatedly maintained a target of 5900+ since the month of february, nifty finally acheived the target (but not before triggering our stop loss twice) :)
Nifty now is in overbought zone with negative divergences with the trending upmove over. The outlook on the markets now remains negative. SELL ON RISES.
The resistance levels for nifty now come in at 5920, 5950 and 6020.
Markets may move sideways with a lot of whipsaws before breaking down to 5500 levels. So i advise one to short and sit tight with it until the tgt is achieved or the sl is triggered.
Current View : SELL ON RISES.
Final Call???
Sell Nifty at 5920 with tgt of 5450 and sl of 6070
Risk = 150pts Reward = 450pts
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