MKT OUTLOOK

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Nifty, as expected, opened deep red and Nifty continued to go deeper in the red till it found support at 4412, much lower than the January and March lows. From there a recovery came about but with regular corrections .Finally, the Nifty ended the day much lower than Friday’s close, but luckily above the 4450+

4600 Put Recommended @80-90 Zone Made 249 High!!! In Afternoon Session
300% Gain BTST



Now Next.........????????????

2 Possibilities:-
1>>We Assume 4400 is Our Base & Long TGT is 4590-4650-4710 & Fall Upto 4300-4191
2>>4370 is Our Base & 4700 Zone Offers Stiff Resistence But if Crossed We Cn Touch 5000+ Levels with Good Magnitude.

We have seen a similar pattern in March (Refer Bear Sway May Be Over Thread) from 4478 We enjoyed 900 Pt Rally on Sustained Basis...

Similar pattern this time but with some Ifs & Buts...

>>Global Sentiments will Drive Our Mkt
>>As Per EW One Gap Left @4191 Level which must be filled.A common principle of gaps is that markets do not like them and they want to fill/close the gaps as soon as possible
{{Source:Some Elliot Wave Experts... Subject to Discussion)
>> Possibility of CRR Hike Due to Rising Inflation

In Earlier Post i mentioned if crude is abv 120$ & inflation abv 8 we may test New lows which proved correct Today.

Strategy:

Above 4725 We are in Safe Trading Zone.Till dan Traders can enjoy from trading opportunities to trade long/short but ensure to exit on minor Gains..

RPL
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LITL
SESAGOA
RELCAP
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ABAN OFFSHORE
SEL MCL
UCALFUEL

Trade with small stoploss & Low Qty

RPL JP ASS RELCAP HDFC ABAN My Personal Trades....