Nifty - Formed inverted hammer today EOD candlesticks. After a Doji, the body of the candlestick gapped down hence qualifies for STAR like qualities as well. An inverted hammer after a downturn needs a verification next day. Going by the global cues today evening - it looks like global cues would be negative until there is some recovery in the later hours.
The larger trend is down and the index now remains sell on rallies. We are in only selected strongest of strongest stocks and would be looking to exit these positions in the rally. These stocks have been least affected by the carnage and willingly may give us a chance to get out in best possible manner. Beyond a certain point if that doesnt materialise, we have our stop losses ready.
At higher points we would initiate short positions according to the trading range that may develop after this fast move. \
Gold has been a big mover and we remain big fans of this GOLDEN BULL.
The larger trend is down and the index now remains sell on rallies. We are in only selected strongest of strongest stocks and would be looking to exit these positions in the rally. These stocks have been least affected by the carnage and willingly may give us a chance to get out in best possible manner. Beyond a certain point if that doesnt materialise, we have our stop losses ready.
At higher points we would initiate short positions according to the trading range that may develop after this fast move. \
Gold has been a big mover and we remain big fans of this GOLDEN BULL.
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