The markets tested 4850 on the Nifty on Friday and touched an intraday high of 5022 odd yesterday. We maintained that the bottom has been made. Was it too premature? With every passing day...as the Nifty fails to show strength..the conviction that 4900 odd is the bottom is fading...
But the problem is also that we are in the last week of expiry and volatility is always pretty high. For now just wait and watch.Hold on to your positions and see if Nifty closes above 4900 today.If it doesnt, something is not right with the market. Trim positions, take 2 steps backward and we shall re-think the positions.
Divis Lab is showing a lot of strength and can target 780 in the short term.
Have a great trading day,
Regards,
Rahul T
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