I was insisting in all my old posts in last 6 days > wait till 2nd week end the market will come to the ground reality..Today the iip-data was below expectation and the impact shown in the market instandly. sensex fall of -400 points.The banknifty fell right from the opening about 300 points...About 10 days ago the banknifty reached 13300 level and now came down to 12500 levels...Many people called me to seek my guidance what to do with the shorts near 12300 level? or cover in 13300 level with loss of capital!!! All those people were called me are not my clients...but still i insited them to hold the short for a month...now many realieved and started covering short partially...
Now the banknifty possibley bounce again to the chennel top mean while it may go down to 12380 level and again touch 12900+ levels.
Today we have covered all our positional shorts near 12560 which was sold on Deepawali day near 13350 level .
We also done intraday and gained about 127 points.
