Hello rkkarnani,
Am not sure what you mean by "partial narrowing" but i feel that the mkt is feeling the effect of spurt in liquidity. Nifty has to cross 5150 spot for the trend to turn overtly +ve for me.
Both TECHM and TATASTEEL followed our scripts so that's good. As I write this, TECHM is at 726 (fut) after hitting 727.6 hi so far; and TATASTEEL is at 474.5 (fut) after hitting 478.5.
TATASTEEL R1/R2 are at 477.3/483.15 (spot).
TECHM R1/R2 are at 721.05/726.8 (spot).
TATASTEEL is showing bearish hangman, and also being an index stock is more likely to show profit booking. So when it next spurts up to 483 again, one can short it with a stoploss at 490. If it stays above 490, it can go up to 526 also so you have to quick and nimble to book profits.
BANKINDIA, the perennial short, is good to short between 335-337 with a stoploss at 338. You could book profits below 330.
Please note that while the prices discussed are always spot prices, one has to adjust for future prices accordingly to be precise.
Am not sure what you mean by "partial narrowing" but i feel that the mkt is feeling the effect of spurt in liquidity. Nifty has to cross 5150 spot for the trend to turn overtly +ve for me.
Both TECHM and TATASTEEL followed our scripts so that's good. As I write this, TECHM is at 726 (fut) after hitting 727.6 hi so far; and TATASTEEL is at 474.5 (fut) after hitting 478.5.
TATASTEEL R1/R2 are at 477.3/483.15 (spot).
TECHM R1/R2 are at 721.05/726.8 (spot).
TATASTEEL is showing bearish hangman, and also being an index stock is more likely to show profit booking. So when it next spurts up to 483 again, one can short it with a stoploss at 490. If it stays above 490, it can go up to 526 also so you have to quick and nimble to book profits.
BANKINDIA, the perennial short, is good to short between 335-337 with a stoploss at 338. You could book profits below 330.
Please note that while the prices discussed are always spot prices, one has to adjust for future prices accordingly to be precise.