Hi All,
As expected markets are near the judgemental level of 6k and a consistent close below the same ca open further downside in Nifty....
5970 is a level to watch out for.....
However, if it is believed that markets discounts everything in advance, are they discounting Election results which are to be announced in the first week of December or is it a downfall on account of withdrawal requests due to upcoming holiday season in the US and economic deficiencies in India....
I think the time is the best medicine... Let's wait and watch....
As discussed, no longs should be initiated for delevery trades unless there is either a positive close or a trigger on Daily charts ....
cheers
Hrishi
As expected markets are near the judgemental level of 6k and a consistent close below the same ca open further downside in Nifty....
5970 is a level to watch out for.....
However, if it is believed that markets discounts everything in advance, are they discounting Election results which are to be announced in the first week of December or is it a downfall on account of withdrawal requests due to upcoming holiday season in the US and economic deficiencies in India....
I think the time is the best medicine... Let's wait and watch....
As discussed, no longs should be initiated for delevery trades unless there is either a positive close or a trigger on Daily charts ....
cheers
Hrishi