As i said yesterday, nsenifty is still in a bearish territory. Weekly graph shows big sign of bearishness in NSEInfty and S&P500 (US). Shorting NSENifty is the best approach if one wants to play with it. Market is still inbetween the range so in a day or two it can move any side.
Its a risky market and prices are still in the rante hasn't reached the support or resistance. My gut feeling is that based on todays action, we may see 4885 in nifty tomorrow.
Spx is still in a bearish territorry. Weekly graph shows the real bearishness. It is right at the support level. if it breaks 1208 level; next support is very low from here. And again, I will wait till it hits the Support or resistance, i don't trade in ranges. Its too risky. If you are a super day trader and have to trade something then i would go with shorting.
Good trading everybody
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