Wall Street finished moderately higher on friday led by mixed set of economic data.Asian markets are trading lower today .Nifty too opened lower ,presently its trading at 5117.Having not been able to close above 5147 has been bit negative.Entire last week markets have been very dull and listless.Looks like market is waiting for a trigger to take a direction.For today if nifty spot closes below 5100 then markets could fall,shorters can have a stop loss of 5135 for intraday and positional stop loss of close above 5147.Those who are long can have a stop loss of 5100 on spot nifty for all long positions.Bulls need a close above 5147.Markets cannot remain sideways for long at some point of time it will take a direction.Watch out the levels.
No comments:
Post a Comment