Nifty closed in red at 5188 levels after losing 50 odd points.The market breadth stood completely in the favor of the bears with 411 advances to 1032 declines. The nifty opened gap down on global concern,made an attempt to stay above 5211 ,but failed to,it went for another attempt ,but this time it fizzled off and approached an intraday levels,this nifty somehow managed to close just off the lows.Today's move was a clear reflection of increasing weakness,nifty wont hold on to higher levels until fairly justified by the market factors.Every rally is likely to get sold off,since markets are trading in stringent boundaries.Current move may lead the market to lower levels.
Sine again market has given a sub 5200 close,concerning weakness ,leading markets to a stable level of 5080 ,the markets likely to approach 5000 to sub 5000 levels in worse case scenarios,in such a case position on a large thought could be on the short side provided with strict stops,also options would provide a good help in giving insurance .
In intraday good profits are seeming more on the short side ,here i am initiating a mildly bearish call on the short side.Trader can take short position as and when indicated by indicators and oscillators respectively
Sine again market has given a sub 5200 close,concerning weakness ,leading markets to a stable level of 5080 ,the markets likely to approach 5000 to sub 5000 levels in worse case scenarios,in such a case position on a large thought could be on the short side provided with strict stops,also options would provide a good help in giving insurance .
In intraday good profits are seeming more on the short side ,here i am initiating a mildly bearish call on the short side.Trader can take short position as and when indicated by indicators and oscillators respectively
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