Back to my desk now after some Easter Festivities and looking forward to an eventful week in the markets.
I tried uploading a post on Saturday on "Mind Over Markets", but it was taken down later by the admin here, as the layout was not fitting in the blog structure. So my apologies if you had a blank page greeting you over the weekend.
The high note of thursday's sesssion was the total absence of the seller from the market.Hence bulls were able to drift the market higher.
SGX Nifty is pointing to an open around 5340 levels in the futures, which are prior highs.Expect some consolidation and a tight range in the morning session.
A break of 5312 on the downside should put Value Area Low into play.
Here's the chart:
Posts
9 comments:
Gm
GM.
Small range of 18 points for the past 90 minutes.
Action points are 5346 to the upside and 5312 to the downside.
It means we can buy near to 5316 with sl-5308 & short near 5340 with sl-5348?
Am I correct?
Yes you can play that range till it resolves..
Nifty still in a 21 point range 5322-5343.
Buy above 5346 for 5376 and 5394. Sl 5334.
It's a buy above call and we are playing only when it resolves to the upside.
Viren sir I am short in Nf as per morning plan, Should I book out or wait for lower levels?
Musti,
The range will give have to give way now...
Have your Sl in the system, if it does not go your way.
Book out some longs at 5365.Bring SL to 5356 for remaining qty.
Looks like we will not get 5376 today.
Book out here at 5365.
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