Yesterday Nifty buoyed above our levels and worked as expected. But today the level of 9959, which is also yesterday's low, plays a very important part in defining that how long the consolidation period would be for Nifty. Breaching yesterday's low 9959 might bring Nifty down a bit more.
One might look to book profits if Nifty breaches 9959 level and then wait for it to complete the consolidation phase.
If it stays above 9959 then keep holding long.
Meanwhile the other factors like PUT CALL RATIO and the MAX OPTION PAIN is supporting this up-move.
So keep an eye on 9959.
One might look to book profits if Nifty breaches 9959 level and then wait for it to complete the consolidation phase.
If it stays above 9959 then keep holding long.
Meanwhile the other factors like PUT CALL RATIO and the MAX OPTION PAIN is supporting this up-move.
So keep an eye on 9959.
