Good Morning Friends,
I have already updated too many times that Nifty remains heavy at 15900 levels. It shown weakness at top again and then eventually slipped. Yesterday it hit a low at 15701. Can we expect a bounce
Yes, as it is shown by SGX Nifty but picture may not change. I am expecting a fall after bounce and that bounce may remains an initial bounce.
Take a note that we may see opening quote near at15800 and that level may remain a zone of resistance. Still, I feel that one should prefer to take caution at initial hours of trades.
If market generate pattern of weakness above 15800 and below 15850 then I will prefer to add short again.
Do not expect market to go beyond 15600 to 15950 quickly. Don't matter we spend two months in this zone. So far we have no great signal of breakout.
Happy Trading
