Nifty continued to drift further taking cues from the global markets. On Friday due to short covering markets ended in green despite the bleak outlook at home.
This week we have only three trading sessions hence there could not be much drama in this week’s first part. We will start this week on a soft note but on later part of the week we may see selling.
Hence, traders can go short on Nifty around the 2640-2670 keeping the 2745 as stop loss targeting the
T1:2555
T2:2475
T3:2405. One can hold this for the next week also.
This downtrend likely to go beyond the October lows and can test the 1900+ levels in the medium term.
With thanks
Be and make
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