Market is in a tight bank and is consolidating. It is not giving any clear direction and hence it is better to stay away from the market till a decisive breakout happens.
When market is in sideways consolidation, it is advisable not to trade. Hence we have cleared all our positions and waiting for proper directions. There are no decisive moves anywhere.
Overall market view as i have been telling you is negative only. But since markets have corrected from 5770 till 5550. Any short covering rally of 50-100 points can happen at these levels.
Let us wait till market shows its direction for intraday.
When market is in sideways consolidation, it is advisable not to trade. Hence we have cleared all our positions and waiting for proper directions. There are no decisive moves anywhere.
Overall market view as i have been telling you is negative only. But since markets have corrected from 5770 till 5550. Any short covering rally of 50-100 points can happen at these levels.
Let us wait till market shows its direction for intraday.
Gold gains slightly as lower price levels induce buying.
ReplyDeleteCapitalstars