I cant even term it as a Dead Cat Bounce.
A Dead Cat Bounce always takes the shorters with surprise. The case is not as of now. The bulls staged a decent rally to exit at some decent levels. For me it is just the alignment of the indicators to correct the oversold conditions.
For tomorrow the support lies at 4868 below which we may directly get 4786 levels and even much lower. Above 4933 we may get 4980.
On the personal front i would brutally short nifty near 4933 levels and even on break of 4868 levels with a SL of 4980.
Target still awaits for 4763 and 4667. At 4667 levels we may see a decent bounce which also can have the potential to take nifty higher. Lets see as still it is too far away.
Rome was not build in a day and thus a single rally cannot change the picture that the bears have painted.
A Dead Cat Bounce always takes the shorters with surprise. The case is not as of now. The bulls staged a decent rally to exit at some decent levels. For me it is just the alignment of the indicators to correct the oversold conditions.
For tomorrow the support lies at 4868 below which we may directly get 4786 levels and even much lower. Above 4933 we may get 4980.
On the personal front i would brutally short nifty near 4933 levels and even on break of 4868 levels with a SL of 4980.
Target still awaits for 4763 and 4667. At 4667 levels we may see a decent bounce which also can have the potential to take nifty higher. Lets see as still it is too far away.
Rome was not build in a day and thus a single rally cannot change the picture that the bears have painted.
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