Good morning friends,
Today is weekly expiry day. Once again, it is going to play its role with both side swings with volatility and that volatility is opportunity. Opportunity to make money and equally if you wrong it will be opportunity to loose money. So, handle this volatility with extreme care.
I quoted 17280 as support yesterday, please check yesterday's low. It hit 17280 and gave a dead cat bounce of nearly 100 points.
What's for today?
Well, opening may be soft today which is definitely going to happen first time in past many days. There is no big logic. I am just watching SGX Nifty.
After opening market may try to give some push by bulls power but that may not last longer. Eventually, 17280 may be under test again.
Now, key point of trading will come at 17280. Will it make or break?
To me it is looking like a over all negative day by close.
Now a big question which most people asked me.
Will market ever break 17000?
Fine, dear friends, believe me this market will not only break 17000 but also 16000 but that doesn't mean that you short today or tomorrow. Market used to carry over valuation for long time. When it correct it self, it will correct in brutal manner. It is your duty to save your money. This is what market is all about.
I used to take day by day progress. In recent days I saved my self and many by not shorting or stopping others from shorting.
Long is not my choice at these valuation.
Happy Ganeshchaturdashi in Advance to you and your family members.
Happy Trading.
