The short term view posted in my post NIfty 24 September 2013 : A short term view, which is likely to take place within the containing possibilities shown in my post Nifty 24 September 2013 : The container for some time to come, has taken the least expected path in all probabilities with minor variations. The subsequent moves mandated a review and when I did that, following possibilities emerge...
So what should be done? Within these possibilities, longs could be initiated near recent lows with SL of 5797 for a target of 5900/5970/6100. While Shorts can be initiated only near the thick red UTL with SL above this. Targets for shorts could be 5810/5700/5500. Whichever side is chosen, a SL must be an integral part of the plan. There could be more surprises in store with Bernanke and Rajan coming up with unexpected discourses to revive their respective economies.
So what should be done? Within these possibilities, longs could be initiated near recent lows with SL of 5797 for a target of 5900/5970/6100. While Shorts can be initiated only near the thick red UTL with SL above this. Targets for shorts could be 5810/5700/5500. Whichever side is chosen, a SL must be an integral part of the plan. There could be more surprises in store with Bernanke and Rajan coming up with unexpected discourses to revive their respective economies.
No comments:
Post a Comment