Nifty halted its rally at 11714 in spite of BN opened 300 points up. The index management is so nice that Nifty opened gap down and finally closed below 11600. That does not look nice on the opening day of the week.
Both today opening and closing looks weak. Unless 11714 is surpassed there can be no long in this market.
I have identified INFY as short candidate on Friday to my Future segment clients. That went on well as the chart was clearly showing sell. I have posted my level and close price of all 50 scrips and in that you can find INFY lagging behind. That was the reason for us to go short in this scrip.
For tomorrow, ITC and IOC are two more candidates along with INFY ready for short. Are you ready?
Nifty 4 hour candle indicate some exhaustion and may take some breather. Bank Nifty has just started its uptrend.
Non Banking scrips likely to have some correction and banking scrips are getting topped out during this week.
The overall trend is intact as 11491 is protected. BN looking good. We may perhaps see a flat to negative expiry this week.
NO SHORTS PLEASE.
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