In our yesterdays post we wrote about the market that was claimped up during closing and that is going to futile today.That was happened.Today the market opened strong near 12484 and fell deep down to 12360 level. Then it slowly sustained and gained strength and gone to 12500 levels there it shoot up and run up gaps seen till 12620 level . We observerd the market was like - 'the horse eye's which is tied and reached it destiney without seeing anything on the way...A I wrotsimilar way the banknifty touched 12620 and slowely came down to 580 from there it went down. The market fall was in such a speed and broken the earlier days low and went deep down to 12260 level.i wrote 2 weeks back when the market was in 12800 level about this level.
As usual we made great gain at every level buy/sell and we exactly bought at 12504 and some how seen the market fundamentals was weak and exited there..but it went to 12620 level...we were waiting for a sell and sold in 12588 and there on we started accumulating profits in free fall where we were holding short..we always allign ourselfs along with the market and that is been our secret of success and that paid great reward.We knew how to turn the situation into our favour.
Now what we do expect?
The market > Nifty and Banknifty now in a positional sell. The today market and yesterday market witnessed so much of selling and we do expect further selling in nifty and a breakdown of 5992 may be a critical level for a correction of about 700 points minimum. So be cautious of your longs.Book profit in your scrip and keep cash reserve.