Hi Everyone,
As expected a Hammer on Daily
charts also was not sufficient for Nifty due to alarming Advance Decline ratio
yesterday.
Nifty gaps down by > 100
points today and currently trading around 7450.
Now the last hope for bulls are
again near yesterday’s lows of 7420-7400, below which gates for 7100 will open,
if there is no Concrete Confirmation on charts
In a nutshell, it is not yet an
easy going for bulls as yesterday’s rally lacked conviction and support, again
it’s better to wait for bottom fishing and continue with our negative bias...
Intraday view,
Aggressive traders can be on the
long side of Nifty with SL below yesterday’s low.... (sorry for delayed update on blog, posted it @ 7470-80Nifty levels)
Cheers
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