NIFTY 17 AUGUST 2021 : Wait for one big red candle to say that it can correct. If it doesn't then it cannot correct.

Good Morning Friends, 

So finally, market has denied Afghan crisis. It is running with its own dynamics. This was my point yesterday. It is always better to follow chart than events. Afghan crisis is humanitarian crisis and I also condemn that. 

A complete nation is handed over to terrorists and world is just watching. Its a shame. Its a defeat of super power. 

Sooner or later it will be safe heaven for tourist terrorist. 

Shall I short market on just above logic? No is my answer. I am more concerned with underperformance of mid cap and small cap indices. 

Before top, usually, money goes out first from risky asset. This is showing that market has done with its risk apatite and sooner blue chip index will correct. 

Its does not mean, it will correct today or tomorrow. It may or may not be. Its medium term view. Market may advance on optimism and money flow. Retail traders and investors should maintain distance from market. 

 This is the kind of levels where retailers get trap. I have a sense, year 2022, may be a year of correction. 

For immediate technical,  wait for one big red candle to say for short term correction. You cannot short new or newer all time high. 

I am already maintaining distance from long trades too. 

Happy Trading,