Nifty - The week gone by
The Nifty closed for the week at 5059 after opening at 4999 and showing low of 4943 and a high of 5169, with a modest gain of 60 points, which is half of its ATR (Average True Range).
This performance seems really tepid compared to the 300 point gain during the week past before that. Clearly the bulls are losing steam and the bears now seem to be rejuvinated.
As discussed in our earlier post, "The bearishness is creeping in", the bears got their act together on Friday and hammered down the Nifty. Also our warnings of "Volatile sessions Ahead" proved to be timely and accurate. What's more, all our levels were respected by the markets.
Look at our recommendations,
Quoted from our earlier post.
You can start longs around 5010 with a SL of 4980 and target of 5065. On the other hand, you may also start short positions at around 5110 with a SL of 5140 and a target of 5045.
It could be a rewarding session for both bulls and bears. Pigs will get slaughtered, so don't be a pig.
Watch out for next week, it could be a exciting one with more volatility written all over.
Tomorrow, we will be analyzing things more minutely and will come up with our suggestions for Monday. Do visit us again.
Happy Weekend !!!
For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty closed for the week at 5059 after opening at 4999 and showing low of 4943 and a high of 5169, with a modest gain of 60 points, which is half of its ATR (Average True Range).
This performance seems really tepid compared to the 300 point gain during the week past before that. Clearly the bulls are losing steam and the bears now seem to be rejuvinated.
As discussed in our earlier post, "The bearishness is creeping in", the bears got their act together on Friday and hammered down the Nifty. Also our warnings of "Volatile sessions Ahead" proved to be timely and accurate. What's more, all our levels were respected by the markets.
Look at our recommendations,
Quoted from our earlier post.
You can start longs around 5010 with a SL of 4980 and target of 5065. On the other hand, you may also start short positions at around 5110 with a SL of 5140 and a target of 5045.
It could be a rewarding session for both bulls and bears. Pigs will get slaughtered, so don't be a pig.
Watch out for next week, it could be a exciting one with more volatility written all over.
Tomorrow, we will be analyzing things more minutely and will come up with our suggestions for Monday. Do visit us again.
Happy Weekend !!!
For cash market recommendations see our Daily Pre Market calls on NSE
No comments:
Post a Comment
Please add your comments here. Comments will be moderated.