Good morning friends,
Shorting is a sin this market. Still above chart is suggesting me for the price correction up to 18250 to 18150 levels. This correction is going to be the result of many big gap up opening. This can just be the usual pull back in the price.
It is just not going to hurt anything for up trend. Nevertheless, just one day of 50 points fall cannot be named as any sign of weakness.
Warning situation is that price is moving too higher than any moving average. Price will try to come near to moving average.
Is there any scope of trading long?
This market is all about trading long with proper risk rewards. Wait for strength signal which will come soon then add long.
Happy trading
