Till yesterday i was somewhat bearish but today i have turned into a bull. The reason being today's fall was on low volumes above all it lacked the conviction to move nifty lower. All in All a neutral day.The whole day NF move in a very narrow and at last just to create panic among retailers touched 5980 and retraced back. Surely NF is approaching for a Santa Claus Rally.
For tomorrow to 6027 and 6040 are minor hurdles above which 6094 maybe achieved and strong support exist at 5964-5940 level below which panic would be there. As such Again an oppurtunity to buy tomorrow if we open around today's closing or do a gap up or gap down. In all cases just buy as NF is poised to move higher
One can take small qty of 5900 put as a hedge but before making further lows we are definitely touching 6094-6120 levels then may move down by expiry.
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