The past one hour seems to be a very tight hour for NIFTY which has had just a 6 points range. Though it has been an uptick bar, there seems to be warnings for weakness getting in. Value zone moves up to 5318-5331, marginally inching up again. Whether the current move is going to see a new high before expiry or will it take more time and into the next contract is a serious thought now?
A down tick is the exit rule for swing long positions and a reversal is needed to trend long exit. We are going with the flow. Traders need to give more attention to the screen in the coming hours.
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