Decrease in business sectors following three upside days :
- All the sectoral indices end in losses lead by reality and FMCG.
- Place your stop loss at breakeven for nifty.
- Chances of a range bound trading is higher
We are long in Nifty. Traders should move there stops at breakeven.
Chances of trading range are very high now. Likely level should be 10100-10330.
New buying should be done if
- Price moves and closes above 10330.
Bank NIFTY View
bank Nifty opened at 25413.40 with 17 points. Price settled at 25120.30 witha loss of 276 points. Intraday price action in the Bank Nifty was bearish today.
We have a long position in Bank Nifty Future from 25242 with a stop 25200. we incurred a loss of 42 points.
Trades (in future segment)
1) MuthootFinance (Sell)
2) PVR (Buy)
GFS Wealth Creators Views :