Nifty

Unexpected Speed Breaker

Where it was expected that we shall just cross over the bridge of Expiry safely and without volatility, all of a sudden we got a big speed breaker where almost everyone touched its SL. Though yet road hasnt changed for the Nifty’s move, but it has surely gave a sudden jerk which has given a small injury to profits. As you all could notice in the attached graph, we are back on the support line which has been tested for the third time in recent past. A triangle pattern which was expected to be intact, has proved to be false breakout and after redrawing the patter, a Wedge could be marked out which could be brutal on breakout on either side. So again its time be cautious. And tomorrow we could have another volatile session. So after triggering SL of 7180 on my yesterday’s call, i recommend to wait till tomorrows close!!!  Safe traders stay away from the road.

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