Crash.
Mr. Market is likely to get splashed with the blood of sober bulls in the next session. NIFTY which took to sleepy Bull Run on Friday registering nominal gains is going to witness a live episode of bulls running amok to cover their position on the opening bell. Europe closed weak while the US market has given a mother of all weakness on Friday. Major indices have closed shedding close to 4% of their values.
Our running long position on the hourly is likely to be butchered live. Traders holding long position on NIFTY hold to strict stop loss, as closing prices for us on Friday reflected strong bullish sentiment; short signals are awaited and are guaranteed below 10.00 am low. But, what would be the value of the market at those lows is anybodys guess.
With the weekly already in non-trend and now daily will follow when the long trade here gets closed. This gives us a warning that it is going to be a dangerously bumpy road ahead for the markets, at least until a new trend develops. We are likely to witness streaks of whipsaws in the hourly charts too.
Mr. Market is likely to get splashed with the blood of sober bulls in the next session. NIFTY which took to sleepy Bull Run on Friday registering nominal gains is going to witness a live episode of bulls running amok to cover their position on the opening bell. Europe closed weak while the US market has given a mother of all weakness on Friday. Major indices have closed shedding close to 4% of their values.
Our running long position on the hourly is likely to be butchered live. Traders holding long position on NIFTY hold to strict stop loss, as closing prices for us on Friday reflected strong bullish sentiment; short signals are awaited and are guaranteed below 10.00 am low. But, what would be the value of the market at those lows is anybodys guess.
With the weekly already in non-trend and now daily will follow when the long trade here gets closed. This gives us a warning that it is going to be a dangerously bumpy road ahead for the markets, at least until a new trend develops. We are likely to witness streaks of whipsaws in the hourly charts too.