This week has been just like another Dream Run for all traders in India but ofcourse it was associated with one of the most volatile week in recent times. Last week i mentioned about  GST Booster for Nifty which did work at the last moment of the week. As its always believed, boosters are used to overtake components with surprising speed and thats what exactly happened today on Indian D-street. Yesterday at close it just seemed that bears are getting in favour and it was expected that today my trailing stop loss 8480 could just be triggered but Bulls pressed booster button and took away the game back from the bears. Todays move has given highest 52 weekly  closing which is a clear sign of bulls strength. As marked in the graph attached, Nifty has confirmed a channel on Daily chart and it seems we may face small resistance at 8760 above which a new short term bull run may start. On the downside my trailing SL is still valid at 8480. 

Leave a Reply

Your email address will not be published. Required fields are marked *