Nifty is poised to surprise all this week. Last week it closed @ 5227 with a loss of almost 50 points. At the current level is has very strong support @ 5220-5190 zone. For me breaking this zone is a Herculean task for the bears. They would probably not do that!!
So, I expect Nifty to gather upwards momentum from the current levels soon. At least the probability of this event is very high.
Expect Nifty to show levels of 5260/5300/5350 in immediate future.
In case the bears really manage to hijack the markets expect levels of 5190/5160/5100, the probability of which is very low.
I do not recommend any short positions this week.
Best position is the long position.
Buy Nifty futures or Nifty calls. Of course, do not forget the stop loss.
So, I expect Nifty to gather upwards momentum from the current levels soon. At least the probability of this event is very high.
Expect Nifty to show levels of 5260/5300/5350 in immediate future.
In case the bears really manage to hijack the markets expect levels of 5190/5160/5100, the probability of which is very low.
I do not recommend any short positions this week.
Best position is the long position.
Buy Nifty futures or Nifty calls. Of course, do not forget the stop loss.
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