Ready for a Bear ride
After Diwali trade think market started finding it's direction and it is on for a short term correction. Today even as Asian market ended in green our market not able to sustain a selling pressure and ended the day in red. This is the first indication of some profit booking and short build up.
I had indicated to take positional short on Nifty and Bank Nifty during Muhurat trade. This positions will fetch atleast 5% gain per single lot.
The good indication for Bear attack is a gap down. As of me a gap down is what needed tomorrow and the opening point should be below 5070 in spot. If happens, then we can be 100% sure with our short positions and look for a target of 4920 with in this week.
Dow after making new highs started retracing from our expected level and it may carrect till 9800 in coming days. Just watch out.
I had indicated to take positional short on Nifty and Bank Nifty during Muhurat trade. This positions will fetch atleast 5% gain per single lot.
The good indication for Bear attack is a gap down. As of me a gap down is what needed tomorrow and the opening point should be below 5070 in spot. If happens, then we can be 100% sure with our short positions and look for a target of 4920 with in this week.
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