Good Morning Friends,
As I said yesterday, I am repeating, we need caution from all long position from current levels. Its a history that blue chip index fall after fall in small cap and mid cap indices.
Yesterday, NIFTY was up but small cap 100 and small cap 50 index was down by 2%. This was second day in row.
Hence, it is alarming.
I may plan to add shorts at higher levels with limited quantity and then will go for pyramiding.
It looks like 16500 will act as zone of resistance.
Fine, 15960 -15900 will be the crucial support but currently we are trading well above those supports.
Happy Trading,
Praveen Kumar
