Nifty futures closed at 5155. Now what?????
Nifty completed its 4th wave retracement upto 5125. Now whatever trade going on in the long will be a trap only..... As long as it will be trading above 5125 levels every counter will look bullish. Thats the feature of a bear market. Will Nifty try to cover the gap upto 5325 levels or resume its downward journey??? This month of september may be a calm one. Nifty had covered its ground very fast from 4700 levels to 5100 levels. It may consolidate some time at these levels. The temptation of Nifty going up will lure all the small traders to enter the markets and people will start talking about investment and gets trapped at the lower tops. The levels of 5200 - 5300 will bring back the action of bears. Trade longs till the level of 5125 is respected. But don't be hesitant to cut positions below this level............................
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