Significant reduction in
Except Reliance Industries, PSU stocks, Oil /Gas stocks, broader sector Index stocks' strength weakening.
Overhang of correction in stocks of Bank Index / Financial Services Index, may make Nifty print lower reading in spite of support from Oil & gas / Energy / Auto.
Going long on PSU , Oil & Gas, Energy, Auto with hedging of Short Nifty / Short Bank Nifty . . . .
Do you have specific recommendation whether to go Short or Long for Weekly Expiry of 04-MAR-21 on NIFTY and BANKNIFTY
(b) About economy, valuation, opinions, sudden move. We can related B Graham's “In the short run, the market is a voting machine but in the long run it is a weighing machine.
(c,) If you google or refer a book, it replies your query to go Short or Long after formation of Abandoned Baby. Real point is, should we follow Text book Therapy or recommendation or opinions or personal bias. That makes all the difference. Personally I follow text book, and hedge with opposite direction trade which exhibited opposite direction Relative Strength.
Yes, your points are reasonable and makes sense. Thanks for your time. As you mentioned, yes it is from the classical Text book approach. However, the point is (b) - in which there is a role played by Operations including FIIs. Otherwise, it makes no sense to explain why there should such immediate opposite stances by operators and FIIs.