NIFTY has closed the Gap which it opened on Monday. We did expected a pullback and NIFTY has given that. For now it’s just a pullback there is no significant improvement in overall structure. Market is going up to come down. Do remember the bounce from 16,200 to 16,800 and the way it fizzled out. We are looking opportunities to sell this rally. But because we have an event to deal with Tomorrow we are hedging our short trades to control our risk. In case MARKET decides to get adventurous. The positional view remains bearish. In last 2 days commodity markets have witnessed crazy moves. We still believe this should continue. OIL and METALS were already on a role but yesterday GOLD too joined the party. Do keep an eye on that plenty of juice left on upside on GOLD.
NIFTY extending its pullback. It could still go on only if it manages to protect 15,985 on spot. The moment it breaks game would get over for bulls. In high volatile markets price does fluctuates significantly but which move is real and which move is fake. That’s decided only using the TIME FACTOR. I really should not mention same point again and again. But would say one more time, this rally would fizzle out. Whether that happens Tomorrow or next week that doesn’t matter. We have that Temprament and Patience to reach our desired destination. So do understand our point of view.
NIFTY bulls we do care for you. In case you need fresh stop for your longs then move your stops to 16,100 on spot. Be sensibl with your positions and do respect the TIME.
NIFTY bulls you have a chance to exit. If you do not wish then move your stops to 16,190 on spot.
gann,insides 