Market is ranging from 5368 to 5167 range since last 3 weeks. As I said it before, unless market breaks any of the level we should not take major risk in this market.
One can day trade during the range bound market but for longer term, this is not a good situation.
Market did have little negative movement but still not strong enough for me to start taking big shorting position. We still have strong positive movement behind us so we may be stuck in this range for long time ......
Overbought-oversold ratio has sharp reversal but still it is positive so I would not be surprised if we see gap up opening.....
Today down move was due to the futures of last week.
I believe, we are in the range bound market and not a good idea to take major risk in this market.....
One can day trade during the range bound market but for longer term, this is not a good situation.
Market did have little negative movement but still not strong enough for me to start taking big shorting position. We still have strong positive movement behind us so we may be stuck in this range for long time ......
Overbought-oversold ratio has sharp reversal but still it is positive so I would not be surprised if we see gap up opening.....
Today down move was due to the futures of last week.
I believe, we are in the range bound market and not a good idea to take major risk in this market.....
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