Traders are in confused state of Mind

Nifty has given a close with a perfect Doji on Daily charts, signing a Pause to the previous trend or a break before going ahead. In simpler terms, Doji represents confused state of mind of traders. To add more confusion, today’s Doji pinched a New high as well as new low compared to previous closing giving No clue to technical analyst to decide further route on candle stick patterns. Taking some clues from Derivatives which suggest resistance building strong at 7600 and me too suggested you guys to short Nifty with the same stop loss in my post “Nifty in Reserve” on 3rd March. Indicators have turned flat on daily charts and Nifty bank has given a weak close today so i would suggest to hold on my short call on Index with the same stop loss of 7600. Tomorrow opening shall be crucial…!!!



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