We have systematic selling building up in this market. Since March 9th I see that market breadth is going down everyday which is a systematic process and this is not good for bull move in this market.
Overbought-oversold ratio is in negative territory but still not strong enough for me to start taking heavy short positions. We have immediate support at 5166 and i that is broken, then we are looking for much lower Nifty reading in this market.
Looking at above situation, I am looking for a good shorting candidates now.
No comments:
Post a Comment