NIfty bulltrap

price respected at support level (dec 2016), so made reverse move upwards

Yes, this looks a kind of short covering and is making way for new shorts that can be created at a higher level but we have to respect the market and go with the trend before the pull down starts again..it is recommended to trade and not make new one stroke investments at this point .. market can once again test lower levels as the corona virus issue is far from over

@SourabhShende, rightly said..that we should respect the current trend even if it is short-lived ...

@prasad37, True, this an extra ordinary situation ,Respect the market and be nimble because what is I am seeing is that everyday you face two choices either loose money or miss opportunity . As far as I am concerned 9500 and 10000 looks interesting for short term .