Well this is what the bears are thinking now . Selling at 5611 - 5571 - 5515 . Where will it take . Well The answer always lies always ahead . March may become a month to remember again as carnage awaits in market.
For Monday Resistance is pegged at 5460 and selling can be initiated there. In my personal opinion i expect a huge gap down on Monday and will be followed by brutal killing of bulls as the bears are hungry now.
Below 5413 todays low immediate targets come around 5370 - 5317 . Much to follow after it .
Stay short with SL of 5620/5720.
Last but not the least the picture below is worth the story of bears.
Dear PT,
ReplyDeleteThough world markets are down,I personally do not see much down side from here particularly on Monday.For Monday Nifty has now good support at 5420,5430.On the contrary firm trading above 5490 would be first signal/hint for bears to think over their stand and firm trading above 5525 would be confirmation for the same.
I know the global cues are totally opposite but the FNO data is not yet too supportive for huge down side.So either the data will have to develop during next week or If Nifty wants to go down then Bears will have develop it,from 5420.
@Mynac ...
ReplyDeleteThanks a Lot ... Very True Looking to the huge OI in 5400 put ... 5400 is a real support for the market .... As earlier pointed by you ... My SL for 50% position will be 5538 NS on closing basis ... and the rest 50% will adjust according to the market trend ...As of now ... Eagerly waiting for Monday .... why not the markets work 365/7/24 ... Will place the final SL few points above 5620 NS ..