Today we have noticed the market was similar to yesterday and the only difference was the runaway high made yesterday was 12787(all time high now) and that was not achived.The day high was 12748 and today made a better low than yesterday i.e 12630.The cross over from 690 to 730 jump happened in mid-session and failed to break away yesterday's high.The better low shown today, but not the better high...The banknifty had a great swings in intraday between 677 to 71o we made nearly 12 attempts and gained about 200 points in intraday.The stop loss we kept very narrow less then 10 points and surprisingly most of the time it was not hit.The pre-market view we have send our day prediction and our expected high was 12748 and low was 12633...Amazingly the market done the same and bound to the technicals very much today.
The tomorrow market also willing to show so much of volatality in intraday.One can use the swings for day trading. The banknifty may weak down to 12430 level now or it sustain and move sideways with so much of swings between 20 to 30 points.One can adapt short and longs for 20 points gain with less risk.
The Nifty 6200 mark attracted so much of selling or may be profit booking and a fall down to 6140 will bring more sellings.The short-term view of our market is really bullish and may cross over the life time nifty high(6346).i also wish you to avoid fresh longs or do it with proper plan.
Many scrips are in its year high and the banking stocks are breaking away all barriers all these days.But last few days a kind of shallow move was seen.Today the ADAG group shares moved up greately.