Update 1 : Those who have followed our advice below and short accordingly, they have made decent gains. Congratulations to all. One can hold the short positions as Nifty will see more downside in a week ahead.
Tips & Outlook:
Global Markets have shown a smart bounce back from a technical levels. It was expected as European Markets were touched four and half month low intraday and then regain the positive territory. The technical suggest that markets will continue to take support from yesterday's intraday low and bounce back until buying will continue ( Let's say four to five times ) then it gradually moving lower and break the lows.
Yesterday, Rupee recovered from intra day low based on RBI intervention rumor and supported markets as heavy weights SBI, DLF and other rate sensitive helped to recover from losses and closed in a positive territory, but technical suggesting Sell on rise ( Short Sell ) strategy on Nifty when it move higher as May series may see sub 5000 levels. Avoid buying long on rally and cut long positions as Nifty moves up if someone already holding the positions.
Tips & Outlook:
Global Markets have shown a smart bounce back from a technical levels. It was expected as European Markets were touched four and half month low intraday and then regain the positive territory. The technical suggest that markets will continue to take support from yesterday's intraday low and bounce back until buying will continue ( Let's say four to five times ) then it gradually moving lower and break the lows.
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