This week is very crucial for the markets, in this week we are going to pass some important hurdles which can dictate the direction of the market. Hence, I request all to avoid trading right now, better things to stabilize first. If anybody wants to trade in this week the safest bet is to go short at 2970(if nifty comes in this week) and this call can be for the positional traders.
February is a very crucial month when viewed technically, this is the thirteenth month and will be crucial when viewed Fibonacci view also but swing traders can go to short even on Mondays opening (either it may be flat or mild positive).I would like to remain in the bearish tone for this week also. Global markets already taken the US stimulus package issue which should be voted in next week and was priced in when viewed stock market perspective hence no big moves can be expected based on this.
Go short on every up move keeping a stop loss of 2970 aiming T1:2755 T2:2700
With thanks
Be and make
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