As I have explained in my Previous post, EXIT all LONGS.
You have seen that market went up today upto 5697 (I had told 5700).
So even if you had your NIFTY longs, which we had asked you to take around 5680, you had opportunity to exit today.
Now the market has become quite weak, today it again tried to bridge the gap between 5650 - 5665. It has been to make a new low upto 5660. Now the major support (gap) which was between 5650 - 5683 has become very weak.
Now the support you can look forward is 5600 - 5630. If market breaks this, then 5550 will act as immediate important support. Market in the near future may test 5450, which is the MOST IMPORTANT level.
Market may not fall very easily also since there are multiple supports. Bias in short term is negative below 5680. The major moves can be seen only in specific stocks. As mentioned earlier, the strategy should be "SELL ON RALLIES" till market tests 5450.
You have seen that market went up today upto 5697 (I had told 5700).
So even if you had your NIFTY longs, which we had asked you to take around 5680, you had opportunity to exit today.
Now the market has become quite weak, today it again tried to bridge the gap between 5650 - 5665. It has been to make a new low upto 5660. Now the major support (gap) which was between 5650 - 5683 has become very weak.
Now the support you can look forward is 5600 - 5630. If market breaks this, then 5550 will act as immediate important support. Market in the near future may test 5450, which is the MOST IMPORTANT level.
Market may not fall very easily also since there are multiple supports. Bias in short term is negative below 5680. The major moves can be seen only in specific stocks. As mentioned earlier, the strategy should be "SELL ON RALLIES" till market tests 5450.
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