Way forward in Nifty next 3-4 weeks
1. Yesterday, Later half of the market, price pull back happened from 200 ema, but the end cosing is quite uncertain
2. Blue highlighted area represents stong support 21500-21900
Price opening or closed below this area could unfold another 1000 point dowanward possibility.
3. What can happen,
A. Sidways moment on this support area, untill we get clear picture current political situation
B. High probability of downfalls, since the mandate is unacceptable. Seller will get aggressive on every rise. Volatility will increase
4. What should be done, Limit your stock positions for at least next 3-4 weeks.
Ideally fresh position shouldn't be taken untill the price close above 22400.
2. Blue highlighted area represents stong support 21500-21900
Price opening or closed below this area could unfold another 1000 point dowanward possibility.
3. What can happen,
A. Sidways moment on this support area, untill we get clear picture current political situation
B. High probability of downfalls, since the mandate is unacceptable. Seller will get aggressive on every rise. Volatility will increase
4. What should be done, Limit your stock positions for at least next 3-4 weeks.
Ideally fresh position shouldn't be taken untill the price close above 22400.
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