Coming back to Markets

A Short Squeeze & the Bulls Rampage Continues

Bullishness every where as what the market has behaved in the pas 2 weeks . Even the Greece Issue was not able to deter the confidence of bulls . The rally that started near 7997 odd levels is still on.Shorts have been squeezed as of now. Friday action was some how very dull and looks like exhaustion may have been crept in .

For Monday look for profit booking or hedging position with a stop loss of 8680 on the short side. Charts Suggest that we are in for a short term top and Nifty may retrace the up move if not fully - it may partially. On Monday we may see a few points up and then the retraces.

I would suggest going short with a stop loss above 8680 or on break of  8580 for target of Approx 8387 - 8267 - 8256 ( All spot Levels ).

On an ending note

Start where you are. Use what you have. Do what you can.