Remember, the market is designed to fool most of the people most of the time. Sometimes, the market will go contrary to what speculators have predicted. At these times, speculators must abandon their predictions and follow the action of the market. Never argue with the tape. Markets are never wrong, but opinions often are. I only try to react to what the market is telling me by its behavior.
As forecasted 2 days back that Rally for 3 days on card.Already 2 days gone.Yesterday hurdle was at 4730..never crossed in morning session.Our Rock support was at 4610..just kissed 4600 level without volumes and taken U-turn.
-What happened after 4730…Everybody knows !!
-What happened in Reliance ,SBI ,Tisco ,ICICI Bank ?-remember cat !!
I dont have to change levels everyday.If support is not broken or Hurdle is not crossed then ..we should use our commensense.
As mentioned yesterday that above 4730 level it will kiss 4849-4889….so levels are intact.
Today ,Just watch carefully 4849 level.If crosses then also it will face hurdle at 4863 level.
-Best Strategy :110% Go short around 4840-4849 with keeping stoploss of 4863 & consider 4889 as major hurdle for this rally.
-Hourly chart indicates :Today by 10:30 ,will make first top and expect slide and Intraday correction.
-Just see panic selling between 13 :30 to 15 hrs.
-It will be very volatile session.
I will update more /Intraday levels/Turning points to our Susbcribers during trading hrs.
CNX BANK NIFTY : Will kiss 8607 ,8642 & there after ???
CNX IT : Above 5057 if trades with volumes will take to 5134-5160.
