Nifty has run wild and we have been enjoying this ride. However consensus is building up on longs and many getting hyper bullish. Things might remain bullish positionally and those who bought at 17000 levels need not fear. However fresh buys here need tight stops. Nifty might reverse and scare with a 250-300point fall in this week after making a top at around 17300-450 or may be even 17500.this zone might give a headache in this series. Do not take leveraged longs in the coming uptrend till a dip. Leverage on dip can be ok however on rise riding this further needs caution atleast this week until a doubt of a top is made and ppl talk about topping out again. Ppl who are early in this trend need not worry and keep a stop of 17000 and hold for the ride.
Buy the dip is a safe approach or add on only dips might be better. Shorting may be very difficult from the top. These dips that come are to be bought and highs selling might empty ur pockets. Ride further in this week with caution and buy at this new base of 17200-250 range in the coming days after dip with stops of 50pts. Book a little profit if it runs further 100point plus and look for a dip this week
Buy the dip is a safe approach or add on only dips might be better. Shorting may be very difficult from the top. These dips that come are to be bought and highs selling might empty ur pockets. Ride further in this week with caution and buy at this new base of 17200-250 range in the coming days after dip with stops of 50pts. Book a little profit if it runs further 100point plus and look for a dip this week
Comment:
My plan would be to trail further on a 100point fall from highs and buy again at todays levels or trail at todays level whatever be the case first. If neither and hits 17500 would take some profits off the table and buy at a dip after or above 17600 if we go wrong in this view.
Comment:
Intraday is always difficult and there is only so much one can take capital safety should be paramount.