murthyonline

Nifty Weekly Update - 3

NSE:NIFTY   Nifty 50 Index
NS slowly and steadily crossed the ATH and made new high. This slow & steady rise can be termed as a trending pattern.
Looking at the daily, weekly and monthly time frames NS is heading for 11600 before it makes a sideways move marked
in the daily charts with circles and posted here a few days ago. The stochastic is above 80 and it can give gap ups until
it touches 100 and retreat 100-150 points or make sideways movement with downward bias (the 2nd circle in red). Once
it reaches 11900-1200 area (when the stochastic falls below 80) a correction of 7 to 8% can be a probability.
Sir I have positnaly shorted 5000 nifty average 11280. Should I cover my short or wait please guide
Reply
@srahulk, Consistently posting week after week market is going up. May be you must have missed it. If you can hold your
shorts for next 2-3 months you can exit without much loss and may be in small profit. Just see if NS comes near 10337
in the next 2 days and exit part with small loss and use the exited capital to short at higher levels of Oct. futures and
average your price. Disclaimer: This reply is just for educational experience only and may not be good for trading.
Reply
srahulk murthyonline
@murthyonline, sir can I have ur cel no
Reply
@srahulk, 9886615258
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