Last week, it was clearly stated to exit long position. If you have already initiated a short position, trade with strict SL. Surely, it was NOT a good time to go long. This week hasn’t changed a bit. Friday US markets closed in red (plunge more than 100 points) and which would mean that there is a high potential of nifty opening lower. However, It is expected for some bounce in the first part of the week owing to the extreme oversold nature in the very short term (VST). It may be a good idea to lighten some of your short positions and wait for the next opportunity to either go short or long. Better trade duration is intraday or at most 1-2 days to get the benefits.
Do not buy on rise. Use the rise to sell.
BUY NIFTY ABOVE 5035 WITH A STRICT STOPLOSS OF 5018 FOR A TARGET OF 5077-5090-5106 (PURELY FOR INTRADAY TRADE; NO OVERNIGHT CARRY POSITION).
WATCH FOR : IFCI 52.50 CA; RIL 1100 CA FOR INTRADAY PROFITS ONLY
IN CASH SEGMENT, WATCH FOR VOLTAS, JPASSOCIATES
Note:: I will be available in other blog "Jayfromstockmarketsinindia.blogspot.com" during the day.
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