My NIFTY index commentary

bunny

Well-Known Member
#2
On daily charts and weekly charts, we are in a downtrend. Therefore, it is wise only to be short in this market. Being long in hope of retracements is risky business.

As of now, the market has fallen for the last four days. A dead cat bounce can be expected. Price wise, the retracement may go upto today's high price - 5504.
 

bunny

Well-Known Member
#3
On daily charts and weekly charts, we are in a downtrend. Therefore, it is wise only to be short in this market. Being long in hope of retracements is risky business.

As of now, the market has fallen for the last four days. A dead cat bounce can be expected. Price wise, the retracement may go upto today's high price - 5504.
Now that retracement has happened, we are watching eagerly for a entry to take a short trade.
 

bunny

Well-Known Member
#4
Now that retracement has happened, we are watching eagerly for a entry to take a short trade.
The retracements seems to be coming to an end. Resumption of downtrend is likely. Entry conditions and levels to be decided later at end of day as they will depend upon action of today's entire day.
 

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