Another frustrating day if you had planned to trade Nifty. It looks like we have run out of good triggers. The earnings season over…the monetary policies out now the markets are looking for some cues to which way it should move. Speaking of Nifty the global cues weren’t helpful and we continued to meander sideways. If you look at the 5 minutes chart you would notice we just drifted in a range and there was nothing much to trade. It looked like we neither wanted to break on the upside nor the downside. As far as the daily charts is concerned we are back in the box (between the 200 and 50 DMA)…till we break out on the either side it will continue to frustrate. Right Now we are at a stage where both the Bulls and the Bears seem to have the following in their mind;
"Being defeated is often a temporary condition. Giving up is what makes it permanent."
Hmm…Neither side wants to give up…God save the pigs that are getting slaughtered in between!!!
No comments:
Post a Comment