We were somehow not comfortable holding our longs from the last week tuesday onwards and we attempt to sell on every rise...and able to manage to get our intaday milage as usual but some how avoided the positional longs....Last week around 9660 we started giving positional sell and next day we used to cover...Because,everyday the market was showing strength and fooled us technically as if, it was preparing for an rally...It was a phony one...Today it is proved.
We were holding our positional short from yesterday and today we covered our shorts in the opening and and again we sold and placed buy at 9336.00 and banknifty touched 9355 and bounced up to 425 level...we sold again and again and covered in intraday trade... and really minted great money for all our clients.(Also gave free tips for many orkut friends)
We are still holding our positional shorts and expecting the banknifty to fall down further near 9210 level on the coming sessions.
Tomorrow we expect the indian market will open in gap down(Deep Cap down!!) and the nifty may trade near 5180 and bank nifty will be around 9300 range...
friends,Kindly prepare or preplan to book profits/reverse your position accordingly.