By analyzing all conditions on charts, there are possibilities for a sharp decline or downward jerk from present levels or from 8530-8355 levels in very short term. There are rare chances for Nifty to go above 8555 before a reasonable correction. Minimum Correction we can expect till 8321.
Short term strategy should be “Sell on Rise” as also mentioned in my last 3 reports. Nifty consolidated in 8430-8530 range for 3 sessions and now a break is pending, most probably on down side. So, Sell on rise would be best trading strategy for short term. 8561 can be the positional stoploss for shorts which can be reduced further if Nifty decline below 8420.
Read full post with charts at http://sweeglu.com/nifty-is-warning-cautions-for-sharp-decline-in-short-term/
Short term strategy should be “Sell on Rise” as also mentioned in my last 3 reports. Nifty consolidated in 8430-8530 range for 3 sessions and now a break is pending, most probably on down side. So, Sell on rise would be best trading strategy for short term. 8561 can be the positional stoploss for shorts which can be reduced further if Nifty decline below 8420.
Read full post with charts at http://sweeglu.com/nifty-is-warning-cautions-for-sharp-decline-in-short-term/
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