NIFTY - BULLS 'SOS' CALLS

May 9, 2022

Nifty, bears pounce and leave the week with small ray of hope holding above the 16200 area. However, the force of the moves plus the cues so far suggest that bears powering more than expected punch pushing bulls for SOS Calls (panic selling, margin calls, all the stories bound to unfold). The usual value buyers suddenly vanish, currency tumbles, yields spike typical panic day across in the offing. Now that the largest IPO is more or less behind, no one cares for equity markets as every one fighting their own battles. For the bulls need close above 16800 that is far off. For the bears no level is sufficient for them to satisfy. Th extreme levels now stare around 13000 mid. For the day continue the shorts bring down the stops to 16650, if you see 15800 take part profits. Run the balance on trailing basis. For new shorts 16650 remains the stops for move towards recent spike low 15500 this time it can extend to low 15000. Few buying places still exist but we focus on the theme.