Nifty spot : currently quoting at 4990. We have already seen first rise from 4959 to 5016 which was of 47 points.
Higher risk requires higher caution. Now 'short' & 'sell' become very common words in the market so be cautious.
10 minutes intraday charts are suggesting that we have stiff trading resistance at 5022. If we see cross above those then we may see some more recovery.
One can trade long from lower side with small stop loss or wait for higher cross over.
I must add, daily charts are still bearish so one must not take any higher risk. There is nothing that I can suggest you that you can forward any long. Sooner or later we will see 4900-4880.
Regards,
Praveen Kumar
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