Today is an absolutely perfect day to BUY Nifty Feb Future for a 300 Pts gain in next few sessions (may be 4 to 5 sessions).
But the problem in trading world is… Newbies will never buy today (99% of retailers). They will go short today and will be Squeezed by Profession Traders for next few sessions. CHEERS
Check out 10,700 Nifty spot level. It’s a very strong long term support for today price-wise/not time-wise. Long term trend is still up, short & medium term trends are down. Time correction has already happened in this fall & still going on (Nifty Index) but price correction of Nifty is already completed long ago.
If Nifty take support/bounce back above 10,700 spot level then go long for next few sessions. If not then be on sideline and just watch the upmove.
Mkts don’t like uncertainty & it has not discounted fully the Indo-Pak geopolitical tension. Today Nifty has broken below it’s crucial support. Not advisable to go long in Nifty as well as Bank Nifty. Nifty might see sub 10,000 level in coming few weeks. Be on sideline and be safe till then.
Didn’t appear to be fake fall, as it can be seen that FII’s were net seller in those days, and they usually trade at those times only. Just guessing though.
Its an election week and be cautious in trading perpective. After first phase of election, all types of polls will come out and people will react to it.