Good Morning Friends,
Above is an hour chart of Nifty and it has proven again that 15850-15900 remain a tougher resistance. SGX Nifty is giving a sense of higher start. It can open in resistance zone.
What shall be course of action. Let the time pass and wait for time to short at higher levels. I cannot pin point the top. I will in search of some pattern for shorting. I have already said that if I have to trade long from higher levels then I will to add long on breakout.
It is not safer to trade long from higher levels. Gap opening remains troubling. Take a note Nifty will some day break this range and so keep your money management strict.
Sector to watch for the day is metal.
Happy trading,
