Nifty closed into the red marginally, weakness prevails ahead. New low and New lows index registers 0/83 on the new lows side. the top industries that are losing shine are public sector banks with 16 out of 24 stocks registering new mows, followed by Power generation and distribution with a 5 out of 20 stocks registering new lows. When new lows are predominant in the market, any rally will be a false move to attract new shorts.
Our precious week news letter shows many short trades in the offing, with the small rally happening many stocks have the chance to get into fresh short positions.
Traders have to be choosy in their stock picks, some of the stronger stocks like hindunilvr and amtek india will give opportunities to go long when they reach value zone. As the market is very tricky it is advisable to hold very less risk on any trade till market gains some strength.
Happy trading.
Our precious week news letter shows many short trades in the offing, with the small rally happening many stocks have the chance to get into fresh short positions.
Traders have to be choosy in their stock picks, some of the stronger stocks like hindunilvr and amtek india will give opportunities to go long when they reach value zone. As the market is very tricky it is advisable to hold very less risk on any trade till market gains some strength.
Happy trading.
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