Avinash Goklani in nifty-bank
We are continuing our yesterday's view on the index,
Index is in the tight range which normally happens before the big event (this time Budget). if we try to trade this we will stop out again and again which will be of no use as we will end up giving money to the market.
I would suggest to be patient and be out of the market for a day or two.
Markets cannot trade in range forever, it has to break on either side and once the range is broken we will trade on that side of the trend.
Currently we are looking at the range as follows: 27600-26900.
As per our view we requested everyone to remain out of the market as it was range bound, and we were patiently waiting for break out from the range.
Today we have receive the break out and it is on the downside. Positional trade has now changed to sell on rallies from buy on dips.
Therefore we will now look for selling opportunities in the index from now as we expect majort downside on index in coming days.favorite_border