Nifty - On dangerous grounds !

Friends, I am delighted to tell you that the launching of my Academy - a dream project - had a thundering start!! I thank all of you for the continuous support you have given me over the years and this will make me stronger in future. Thanks !

The markets - they got a reason they seem to be waiting for. The Dubai debacle acted as the trigger for a sell off in an overvalued and nervously bullish market. In my previous blog on the day of Nov expiry - I indicated that Nifty 5050 was 'crucial' and if broken, may lead to a further sell off.



Well it seems that now 5100 + levels may be difficult to cross at least in the next few weeks and we can look for an immediate support at 4750. Below this I shall exit any longs in the market and may be shift my energies towards options, currencies and commodities.

The medium term indicator - ADX DI seems to be suggesting ' Caution - Danger ahead'

Well for now we have a situation of 'Caveat Emptor' (Latin words for 'Buyer Beware')

Happy trading! and remember - Don't fear the markets, respect them!!

CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.