Positional: Today was a Volatile Day. Usually Volatile & small range day's are at the end of the move. Below is the chart of Nifty Spot.
1) Price has pulled back twice from MBB, but still COBB is missing.
2) UBB is still Flat !
3) Good DP just below with confluence of Long Term Trendline
On the contrary,
1) Trend is down. So, till it turns, we can't build rosy pictures.. Its a falling market, so there is no Support.. only resistances !
2) LBB should have been flat at this time.
3) Expiry is just after 2 days, so mkt will be choppy. Need to re-analyze after expiry
My Preferred position will be a Long here/ near 8500 iff no COBB. It will be for short term
If COBB, i will short for next level shown.
1) Price has pulled back twice from MBB, but still COBB is missing.
2) UBB is still Flat !
3) Good DP just below with confluence of Long Term Trendline
On the contrary,
1) Trend is down. So, till it turns, we can't build rosy pictures.. Its a falling market, so there is no Support.. only resistances !
2) LBB should have been flat at this time.
3) Expiry is just after 2 days, so mkt will be choppy. Need to re-analyze after expiry
My Preferred position will be a Long here/ near 8500 iff no COBB. It will be for short term
If COBB, i will short for next level shown.
