NIFTY 30 AUGUST 2021 : Another Monday's GAP UP in line. Do not attempt shorting new all time high.
Good Morning Friends,
In the last trading session, Nifty again took a sharp recovery from a pin point fall of morning hours. That's the important characteristic for now.
We are going to see another gap up backed by strong rise in US market. SGX Nifty is giving a hint for gap up of nearly 100 points.
BIG QUESTION - GAP up ke baad kya karen?
Well, in my view we cannot do much after such gap up. Traders must save their money. Do not short this market unnecessarily. You will only end of with frustrating loss. Never ever think to short a market which is constantly making new high. Do not look at fundamentals or any logic to support shorting at these kind of scenario. I am feeling like 2007.
Important levels are - 16600-16570 as key support. As long as Nifty is above 16100, this market can witness rise only.
Shall we talk about 17000 on Nifty???????
Prefer to be spectator, don't be player now.
Happy Trading
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