No charts today...I am not sure yet of market direction...BUT I will look to exit longs today at some good profits...Only because I dont want to let these profits go..We will see what the market does near 4540 and 4620 if we do get there...
I was quite bullish after our market action on the last trading day but after watching the US market for past 2 days, I dont like it at all...Does not look good at all...Sure our market can still rally but to me it makes sense to take profits here and now if you're long with me...
I might also try some small shorts today but remember that its quite risky because of the strong momentum we saw before...We should know within the next 2 days whether it was the real thing....Till then the best thing might be to just sit out...Or if you are gutsy try some day trades...
Best.
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2 comments:
Thanx for the nice charts. I have also booked profit in long call of Nifty but at this time why you have taken shorts because of US Markets or Indian Markets? In daily view of charts 15 MA is above the 45 MA, which means short term is bullish. But 100 MA is above 15 MA, which means long term is bearish. So if short term is bullish we should take longs? what do you say ? pls comment on this in your next updates. but if we see this in weekly charts then everything looks bearish
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