Nifty View: Benchmark index Nifty stretches itself up with today’s 52 points up move in today’s session. The state of heightened volatility continues as the index attempts to reclaim its underlying short term UP trend. We are now at a critical juncture as the index needs to deal with the immediate short term resistances of (15,750-15,800). The “Bulls” need a break above this range and of course to sustain above it for any chance of a new life high. For “Bears” this is a fine opportunity and a slip below 15,700 raises the probability of a slide. Strategically these are times to execute either ultra short term intraday trades or extreme long term cash portfolio investments. Short term trades ranging from 2-5 days are much likely to get whipsawed, so try to stay away from them.
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