Banknifty weekly chartThey Say " The Driver Should expect the un-expected" while driving.
Today the market was behaved the same.Technically it shown strength and sentimentally it was weak(Bombay blast) and fooled all kinds of traders impartialy.The thump rule of technical Analysis says- "market beat every one".
When the market opened in gap down we expected it will fall more as we hold the positional short when we about to place buy in 11100 level ,it just punched days low of 11103.50 and sharply bounced up and didn't give chance to cover short it gone up&up with leaving so many running gaps and finally touched a days high of 11405.The nifty to touched days low and gone to days high of 5667 and it would have triggered all the Sl/SAR that was placed anywhere.At last it gave up almost 50% gain in no time during market closing.
Today we didn't placed any sl but we shorted near 11250 and again in 350 level and just waited patiently as the market pulse was indicated something cooking unusually...When a steep fall happened we covered all shorts and gained profit in intraday both Nifty and banknifty.why the Bn gone to 405 level and fall back to 220 level in less than 10 mins?? There is no technical answer to it..Today there are so many people called who are not our clients,saying they gone long in nifty near 5640 level..when it came down to 5580 they didn't know what to do? because they all were fooled technically as the nifty jumped beyond the resistance zone and thought of carring longs and at last the market fooled many.
Now the Nifty and banknifty are held in between.but in general the market may behave in negative bias.When we see the global cues' most of the index's are any time may burst out..The US current dept gone to 14 trillion approx.When we look out this in a macro economical perspective it is not going to favour the bulls.
Our market now driven by the FII's and don't know when they kick off..So be attentive while trading and maintain your own trading plan to safe guard your investments.
Today the market was behaved the same.Technically it shown strength and sentimentally it was weak(Bombay blast) and fooled all kinds of traders impartialy.The thump rule of technical Analysis says- "market beat every one".
When the market opened in gap down we expected it will fall more as we hold the positional short when we about to place buy in 11100 level ,it just punched days low of 11103.50 and sharply bounced up and didn't give chance to cover short it gone up&up with leaving so many running gaps and finally touched a days high of 11405.The nifty to touched days low and gone to days high of 5667 and it would have triggered all the Sl/SAR that was placed anywhere.At last it gave up almost 50% gain in no time during market closing.
Today we didn't placed any sl but we shorted near 11250 and again in 350 level and just waited patiently as the market pulse was indicated something cooking unusually...When a steep fall happened we covered all shorts and gained profit in intraday both Nifty and banknifty.why the Bn gone to 405 level and fall back to 220 level in less than 10 mins?? There is no technical answer to it..Today there are so many people called who are not our clients,saying they gone long in nifty near 5640 level..when it came down to 5580 they didn't know what to do? because they all were fooled technically as the nifty jumped beyond the resistance zone and thought of carring longs and at last the market fooled many.
Now the Nifty and banknifty are held in between.but in general the market may behave in negative bias.When we see the global cues' most of the index's are any time may burst out..The US current dept gone to 14 trillion approx.When we look out this in a macro economical perspective it is not going to favour the bulls.
Our market now driven by the FII's and don't know when they kick off..So be attentive while trading and maintain your own trading plan to safe guard your investments.
