Sell Nifty spot 23305, target 22380-350 range stop 22500 spot

١١ يوليو

Nifty correction can start anytime as prices seems to be going below short term averages and soon it can start a downtrend with lower highs and lower lows. Profit booking is going on at current levels. Also SEBI restriction on derivatives is not good news for market as it will hugely impact liquidity and hedging cost will increase for institutions. Supply for shares will increase due to this at current levels and demand to buy shares will be selective as valuations are high.
So I think we can easily see 1000pts correction in nifty towards 22380 to 22350 range where good support identified. All the levels are in spot, trade futures or options accordingly. Timeline is 5-8 trading session minimum.

١٢ يوليو

أغلقت الصفقة: تم الوصول لوقف الخسارة

Nifty suddenly shoot up from 24392 spot at 10:53am to 24592 spot at 11:03, so it went up 200pts in just 10mins. This exaggerated movement triggered all the stop loss. However this does not change our view but we cannot hold short positions. So we will short again and this time aggressively if it goes 24300 spot level.