Another firm opening but we weren’t able to build on it. Nifty opened firm with no negative cues from global markets. But after an initial impulse we soon settled to more serene levels, this is the scenario played every Friday now days. If you have failed to take the morning trade then it’s always advisable to stay put till 12 p.m. and sit patiently till the inflation numbers are out. Today was no exception either. The only thing different was that the bitter pill (High Inflation) was swallowed down with some sweet honey (Good GDP Figures). No wonder we just didn’t know weather to scoff at the rising inflation or cheer for good GDP figures. As a result we just called it a day….an Inside Day. On the daily chart we were again spurned by the 50 DMA. Monday gears for interesting trading opportunity. We have a big engulfing red candle and now an Inside Bar. Things will get more volatile as both the bulls and bears will fight to save the low and the high of that red candle respectively. If already long make sure the first thing you do in the morning is punch in your tight Stop Loss same goes for the people who are short.
"The big shots are only the little shots who keep shooting."
Christopher Morle
Hmm… and in the markets I am just tryin2save myself from getting shot!!!
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