Dear All,
Spot Nifty has broken the support of 4760 and the index is trading below the same level. We suggest to close the longs, as trading below 4760 can lead to further fall in the index to the minimum of 4720 - 4680. Only short covering can now help the index to close above 4830, where the probability is going lesser.
Spot Nifty has broken the support of 4760 and the index is trading below the same level. We suggest to close the longs, as trading below 4760 can lead to further fall in the index to the minimum of 4720 - 4680. Only short covering can now help the index to close above 4830, where the probability is going lesser.
With traditional indicators trading at the very lowest levels, the reversal should happen shortly, however due to the F&O expiry volatility remains higher, where more shake outs could be seen. There is no meaning in holding to the longs of current month contract if reversal occurs post expiry. Even long roll over to December contracts are in the comfort zone as Nifty is trading below 4760.
Thanks and Regards
Rohit Saxena
Losers say it is hard and impossible, but winners say it is hard but not impossible." Rohit Saxena
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