MARKET UPDATE

Above 17,030-17,120 NIFTY might attempt a Temparary pull:back. But tough to sustain on Higher levels. We were very clear last week: on the direction of NIFTY
Multiple times we expressed our bearish view. The initial expectations were clear that NIFTY certainly is breaking its swing lows! And yesterday it broke its January lows. Sooner or later U.S. Markets also would break there January lows. Just a matter of time! Expecting that today or tomorrow won’t be an appropriate thing. That’s not how market works. How many days we se NIFTY going down by 3% in a day. A bearish view doesn’t mean that market would go down a % each everyday! I still would like to put it this way. If you throw a Tennis ball hard on a solid surface. Then the first bounce would be higher then the subsequent bounces always would be lower then the previous bounce. In TECHNICAL ANALYSIS this process is called lower tops! So try to understand this point. So far the Volatility has worked in our favour. Doesn’t mean that we trade carelessly. We only can control our risk so focus on that. The volatility is still higher so no point taking extra amount of risk!