Sorry guys my call for new years went wrong and the markets corrected sharply. Well but whatever calls I give I also put my money onto it. So well lost some in the process. The fall was completely unexpected and the sheer ferocity of it, surprised one and all.
Nifty seems to have gone in a downtrend, however whether it will break 5700 is highly debatable. as of now I am long, I went long at 5728 and markets closed well above that today at 5868 odd levels. This current pull back should take us to 5950, from where I will reassess the strategy to hold onto long or reverse the position.
Till then happy trading and keep the faith.
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3 comments:
Going long to take a bounce is fair. The main trend is down. Taking a re-bound from a resistance is more enticing.
agree Amit, however the stops have to very tight....& nimbleness to stop & reverse should be there
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