NIFTY was a big gainer for the day once again.
If we look at just NIFTY, things seem to be hunky dory.
Looking at the Advance – Decline ratio tells us that there were only 588 gainers against 986 losing stocks.
This kind of behaviour is rare and creates doubt about the strength of the market. Let us see how it works out over next few days.
For our trades the day was mixed. We made small gains in CANBK and SUNPHARMA only to give back in other trades most of it in EICHERMOT.
Once again, no new trades. We wait with the current trades.
Trade cautiously, trade profitably.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.