As we have seen in last couple of weeks, market makes moves based on the news. Nifty has has the doji at the end and this means little trend change. I don't see much volume today so big funds are on sidelines and waiting for some action to happen.
Today S&P threaten to downgrade 15 Eurpoe nation's rating which should create major effect in the market. Most stocks in S&P 500 and Nifty didn't have volume to support the recent really. SPX is standing at the key level and Nifty is looking weak too.
If Nifty breaks Fridays low, then chances are market will at least test the last two days support which is around 4930 and if news channel support the bearish view we may cover little bit of Thursday's gap. If we get bearish mindset today, Day trader should be able do good.
One Risky strategy to try is to have limit short order at 4990 and cover it at 4945 with stop at 5035.
Please utilize the comments section send any questions/comments regarding my posts.
Please utilize the comments section send any questions/comments regarding my posts.
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