Not a sebi registered analyst, and these are just my thoughts, and readers should take their own judgement.
Nifty's opening 78 points down at 19655 (below short Target 19667 we mentioned yesterday)
Nikkei's down almost 2%. US markets didn't show similar weakness yesterday, but the futures are showing weakness.
I would be careful before going long.
Fresh long only above 19700-19720 levels.
I would also wait a bit before going short, may lose some profits, but safeguard the capital.. anyone should their take their own judgement.
Good luck
Nifty's opening 78 points down at 19655 (below short Target 19667 we mentioned yesterday)
Nikkei's down almost 2%. US markets didn't show similar weakness yesterday, but the futures are showing weakness.
I would be careful before going long.
Fresh long only above 19700-19720 levels.
I would also wait a bit before going short, may lose some profits, but safeguard the capital.. anyone should their take their own judgement.
Good luck
Comment:
Deleted earlier comment..need a bit of time to re-assess.
Comment:
9:55AM Nifty@19632
Not completely sure weakness is confirmed..
For now -
Fresh long above today's open 19655 - Targets 19688, 19700, 19734
Fresh short below 19600-19616. Targets 19587, 19553, 19520.
SL for long 19624, SL for short 19624
Not completely sure weakness is confirmed..
For now -
Fresh long above today's open 19655 - Targets 19688, 19700, 19734
Fresh short below 19600-19616. Targets 19587, 19553, 19520.
SL for long 19624, SL for short 19624
Comment:
Multiple comments deleted..sorry for confusion. The above comment is final for now.
Comment:
The trigger for weakness -
"Fitch cuts US credit rating a notch from AAA to AA+"
"Fitch cuts US credit rating a notch from AAA to AA+"
Comment:
Nifty made a low of 19524.6 - i will claim all my sell side targets done
We'll know about the 'strength of the weakness' by end of the day - till then be open to any possibility
We'll know about the 'strength of the weakness' by end of the day - till then be open to any possibility
Comment:
12:21 PM, Nifty@19537
A higher probability of Nifty taking a breather now..we may see some side ways movement.
Fresh shorts below 19496. Book profits if you wish to.
For now it's a sell on rise market. So, look for short profits on both sides.
A higher probability of Nifty taking a breather now..we may see some side ways movement.
Fresh shorts below 19496. Book profits if you wish to.
For now it's a sell on rise market. So, look for short profits on both sides.
Comment:
Nifty short updated targets, - 19398, 19374