Below is my view for NIFTY for coming week
1. April 14 : Trading Holiday
2. April 13 : Lock down extension news
3. There could be some news on stimulus package, but I think it is not going to be enough to create sudden jump on the upside.
4. But with current momentum NIFTY could well go up first 9400 - 9600.
5. Hence intraday positions should be on the long side.
6. No reversal trades without change confirmation.
Since 10000 - 10100 zone is not broken and sustained, I still keep my view as this bounce is going to fail. I cannot know when.
1. This means no long position is carried overnight.
2. NO naked PUT selling overnight.
3. Profits to be booked aggressively even if it may feel that its just missing the large uptrend.
1. April 14 : Trading Holiday
2. April 13 : Lock down extension news
3. There could be some news on stimulus package, but I think it is not going to be enough to create sudden jump on the upside.
4. But with current momentum NIFTY could well go up first 9400 - 9600.
5. Hence intraday positions should be on the long side.
6. No reversal trades without change confirmation.
Since 10000 - 10100 zone is not broken and sustained, I still keep my view as this bounce is going to fail. I cannot know when.
1. This means no long position is carried overnight.
2. NO naked PUT selling overnight.
3. Profits to be booked aggressively even if it may feel that its just missing the large uptrend.