Bad Timing

Well what can I say..Covered shorts at the best possible point...Support lvl of 5050 held like I thought it would and I waited for a rise to short into again...Waited for some time...lost patience...and shorted again...Bad level to short....I wish I was able to stay for whole trading days...because I have to go to sleep, this is killing me...Oh well...It is what it is...
Luckily I have the hedge.

What next? It is possible we saw a 'sucker' rally yesterday...The market makers are playing this game well...One thing to note here is FIIs sold 700 crore yesterday which is a big amount compared to their recent activity. I find it interesting that the market rose even when they sold this much...Be cautious if you are long....Atleast for some more time..

As I said before, it looks to me like the public is being trained to buy the dips.

5120 looks key here. Price action bullish above and bearish below. Above this 5150 is strong resistance.

5050 and 5000 are very strong supports. If we break this, we will get a waterfall decline.
Let us see.

Best.