As both the Bulls and the Bears both get defensive, Nifty is still seeking further clues.
As discussed yesterday, the negative bias stayed for almost the entire day, as the Nifty, even after a positive opening, could not retain the opening gains at the end of the day. Today, being a short trading session, the participation is likely to be dull. Also, both the Bulls and Bears are looking defensive, and hence, the Nifty may trade in a very small range.
Whenever, the Nifty trades in a narrow range, the risk reward ratio becomes unfavorable for initiating any trades. Also it is pointless to make a detailed analysis before such a day.
Hence, we are just giving our trading plan for the day.
a) Below 5378, we will open fresh short positions with a SL of 5400 and a target of 5340.
b) Above 5335, we will open fresh long positions with a SL of 5315 and a target of 5375.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
As discussed yesterday, the negative bias stayed for almost the entire day, as the Nifty, even after a positive opening, could not retain the opening gains at the end of the day. Today, being a short trading session, the participation is likely to be dull. Also, both the Bulls and Bears are looking defensive, and hence, the Nifty may trade in a very small range.
Whenever, the Nifty trades in a narrow range, the risk reward ratio becomes unfavorable for initiating any trades. Also it is pointless to make a detailed analysis before such a day.
Hence, we are just giving our trading plan for the day.
a) Below 5378, we will open fresh short positions with a SL of 5400 and a target of 5340.
b) Above 5335, we will open fresh long positions with a SL of 5315 and a target of 5375.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
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