Some bears would have gotten clobbered on Friday...What next?...Its the end of the week, so lets look at weekly chart below...One thing...I have mentioned how important this is before...Stochastics crossover on the weekly...One of the best bottom spotters in my book....The only problem is this next week is one filled with external news events...No need to tell anyone what it is...Tuesday will be very important for our markets...
I was thinking we get one more low..maybe a higher one..but market had other ideas it seems...
For now, for the bulls, the stop is around 4050(tight stop), 3960-3920 levels is the final stop to keep the bull case alive...Dont be long below 3920...This the line in the sand for me...After 4050 ofcourse...
I have a straddle strategy in options to profit either way...let us see if it works! :)
If the govt does NOT fall, a super bear rally to the top of the channel will happen...approx 4500 will come...So much depends on this that it makes some sense to sit out of the market or gutsy players can try some option strategies...to profit either way...
Have a good trading week.
Best.
If the govt does NOT fall, a super bear rally to the top of the channel will happen...approx 4500 will come...So much depends on this that it makes some sense to sit out of the market or gutsy players can try some option strategies...to profit either way...
Have a good trading week.
Best.
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