On Friday we gave tips for positional sell for our subscribers and few were gone short around 9290 level and this morning during market opening i asked them to cover it around 9150level.The banknifty future gave a great chance to cover the short and was in 9160 for a longer time all the people covered the short and booked a profit about 140+points.
Today the market is weak only but it plays lot of tricks and hitting all the stoploss's.We are now keen in observing the facts.As nifty broke the strong supports levels>i.e - 5220 and 5190 level and that indicates a weakness in the overall market.
The repo and reverse repo rate hike will have its own impact on the market as we have seen in the past including the US and Singapore markets.
Important Note: i have recived a facts from my friends >>
Nifty Low is shown as '5180.00' its a false one and it traded low in '5206.00',
Similarly Banknifty Low is not '9126.00' it is actually '9153.00'