After Thursdays big fall in Nifty we had sympathy stable upside move. It wasn't very positive move in the market and there was no strength. If we don't get strength in a day or two we should expect much downward movement towards end of the week.
Since last 4 weeks overbought-oversold ratio hasn't been moving much it has moving in a small range and hence we are not seeing big moves in the market (20%+ move).
So far Nifty has found a little support at 5225 price range and it may stay here until finding its direction....
At this time in the Nifty, I don't like to take much risk and better of if I stay in cash only....
Once strategy would be to be in cash until 5364 or 5167 level is broken because at that time we will get better idea about markets next directional move.
This is a good time to go back and review our past trades and learn from them.......
Some of the good setups list....
Strong setup: Adanipower, Hcltech,maruti,
Since last 4 weeks overbought-oversold ratio hasn't been moving much it has moving in a small range and hence we are not seeing big moves in the market (20%+ move).
So far Nifty has found a little support at 5225 price range and it may stay here until finding its direction....
At this time in the Nifty, I don't like to take much risk and better of if I stay in cash only....
Once strategy would be to be in cash until 5364 or 5167 level is broken because at that time we will get better idea about markets next directional move.
This is a good time to go back and review our past trades and learn from them.......
Some of the good setups list....
Strong setup: Adanipower, Hcltech,maruti,
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