📊SHORT MARKET REPORT📊
A huge bearish candle today indicated more downfall that is coming. So we can expect nifty to fall for next two days continuously. Caution has to be applied that we may see the second micro wave or an up move any day soon. So, protect your capital with stoplosses. This may be quick pull back rally. I would suggest not to aggressively short the market for next two days even though the bearishness is overwhelming. We should not get carried away by the trend. Rather we respect it and plan our trades accordingly. As per our previous market report, 17500 proved to be very crucial as predicted and once that was breached we saw another 200 points drop. It has been quite some time since April, that we have seen Nifty fall by 500+ points.
In case of a pull back rally, 17500 CE and 38000 CE would likely to give you lucrative profits. Don't go long until pull back rally is confirmed. Till then maintain bearish bias.
Few Important levels. Pull back can come from around 17000 levels and may top out at 17800. So on the down side we can trade till 17000 and the pull back can be traded up to 17800. These are as per today's data. Levels can change or become more precise as time passes.
My proprietary indicator has shown a red tick.
A huge bearish candle today indicated more downfall that is coming. So we can expect nifty to fall for next two days continuously. Caution has to be applied that we may see the second micro wave or an up move any day soon. So, protect your capital with stoplosses. This may be quick pull back rally. I would suggest not to aggressively short the market for next two days even though the bearishness is overwhelming. We should not get carried away by the trend. Rather we respect it and plan our trades accordingly. As per our previous market report, 17500 proved to be very crucial as predicted and once that was breached we saw another 200 points drop. It has been quite some time since April, that we have seen Nifty fall by 500+ points.
In case of a pull back rally, 17500 CE and 38000 CE would likely to give you lucrative profits. Don't go long until pull back rally is confirmed. Till then maintain bearish bias.
Few Important levels. Pull back can come from around 17000 levels and may top out at 17800. So on the down side we can trade till 17000 and the pull back can be traded up to 17800. These are as per today's data. Levels can change or become more precise as time passes.
My proprietary indicator has shown a red tick.