Nifty spot clinched the high in the opening bell itself and there was an attempt to reach the day high made in the afternoon, but could not sustain high and closed at 10718. If nifty close below 10670 on a weekly basis, you can go short in futures SL at 10670 for a minimum target of 150 points.
As of now all targets have been achieved by operators by selling at higher level and looking for profit booking by keeping the index at lower levels. This is what one could visualize as event for next week.
The charts very clearly indicate saturation at higher levels. We had 5 consecutive weeks of high close and we must watch the closing tomorrow to take cues for next week move.
Happy Trading!
No comments:
Post a Comment
Note: only a member of this blog may post a comment.