📊SHORT MARKET UPDATE📊
That is classical stock market for you. Everyone was bullish for today even me. And everything went accordingly. But FIIs pressed the buy button at exactly 1:33 pm. So we took the opportunity to trade put options and made profits. One of our forum members wanted to sell, but I had stopped him. Then I pressed sell after sometime. Dunno oft it was his analysis or blank trade but I appreciate him.
I saw two things. A saw tooth pattern on 1 min chart and not being able to break 17600 on 3 attempts. This was the exact high of today.
17500 being broken moves the weight towards bearish bias. 17250 may happen tomorrow. But don't take it as a surprise if a gap down opening happens and the rally resumes. This is not an easy market to predict or trade. So please accept reality.
I would suggest not to take big positions as volatility would mead you hitting stoplosses even if your conviction is correct.
That is classical stock market for you. Everyone was bullish for today even me. And everything went accordingly. But FIIs pressed the buy button at exactly 1:33 pm. So we took the opportunity to trade put options and made profits. One of our forum members wanted to sell, but I had stopped him. Then I pressed sell after sometime. Dunno oft it was his analysis or blank trade but I appreciate him.
I saw two things. A saw tooth pattern on 1 min chart and not being able to break 17600 on 3 attempts. This was the exact high of today.
17500 being broken moves the weight towards bearish bias. 17250 may happen tomorrow. But don't take it as a surprise if a gap down opening happens and the rally resumes. This is not an easy market to predict or trade. So please accept reality.
I would suggest not to take big positions as volatility would mead you hitting stoplosses even if your conviction is correct.