After digesting the gains for few days near the trendline resistance, Nifty made an outside day or a bearish engulfing pattern on daily as per candlesticks. Volumes were higher and indicators may give a sell given it looks probable that Friday may be negative as well since we are closed today. So i have some shorts at the moment taken yesterday because nifty was making a bearish pattern. Now we need a follow up. 5160 is one of the places where one can look for a bounce. But my positional is positional. I would wait to be proven wrong and until i am wrong i would stay with my positions.
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