Good Morning friends,
I hope you got my point in yesterday's trade. A bounce and short. It looks like market will open gap down. Will this see any recovery today? Nothing is impossible but chances are little less. Even if recovery comes it may get sold on top.
I still suggest we are not too far from all time high and hence I am not referring this market as weak in any time frame. This can just be a pull back and trading opportunity. Hence keep your risk management strict.
Now, once you decide your stop loss then you can expect a move towards 15600 again. If it starts closing below 15300 then one can name this market as weak and we are too far from those levels.
I am already trading with low to moderate volume on short side.
Once there is gap down, there is no point to short low due to unfavorable risk to reward ratio.
Happy Tradaing,
