You would have noticed that for the past 3-4 trading sessions, the market is not able to hold on to upmoves during intraday movements.
While many of the basic indicators have already suggested profit booking, with last couple of days movements, some advanced indicators have gone in 'Sell' mode.
A break below 4930 should lead us now towards 4755 initially levels which is also near to the retracement level of the current ongoing move.
At the current juncture, traders and investor may do well in booking profit in any price upmoves and consider short selling below 4930 levels.
Happy trading and profit booking!!
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
1 comment:
Rajeev, your view on gold now? its coming down both in us markets as well as indian markets...its surprising since dollar has been rising, which should have had a positive effect at least on gold in the indian markets...your view on it?
Post a Comment