It was fun Watching Markets yesterday it remind me Roller Coaster ride.. In the morning markets were slight negative, After the budget started it hammered down badly till 6825 (~200 points in few minutes) and then its took u turn till 7095 (yesterdays high) and again it came down below 7000 and closed below 7000 mark.
As expected, yesterday was a volatile session where Nifty first tanked ~200 points and then covered back and it was trading positive by around 45 points and finally closed 42 points lower.
Well based on the charts it has pulled back aggressive from 6820-6800 levels which is a good sign for bulls, However, a close above yesterday high is important going forward. If it closed above 7100 and settles above 7100 then we may a see uptick till 7200 - 7250 levels and above 7250 we may see 7300 - 7350 levels in coming days.
Plan of action for bulls will be wait until you a get a close or a sustain move above 7090 - 7100 levels for confirmation.
Trade with Stoploss and with Proper Money Management.
Regards,
Mayur
Mayur
No comments:
Post a Comment