Nifty closed making 1 more spindle top /doji at eod chart means traders are still confused ...after gap up opening bulls and bears both were pulling ropes but none of them was able to drag market and finally ended there where it was started ...
Negative opening is expected with immediate profit booking later we may see buying at lower levels .We have observed profit booking in reliance at higher levels, it could not sustain above 950 and came down to 920 , huge short covering was there so we are expecting more and more selling in it ..advised to go short at 930 940 levels keeping positional sl of 956 and target below 900.
Buy at / above: 6109 Targets: 6128 - 6144 - 6165
Stoploss : 6094
Sell at / below: 6094 Targets: 6073 - 6053 - 6034 - 6017
Stoploss : 6109
please spot the trend , trade with patience and management of stop loss order