It pays to follow the index (Nifty)

In the morning the expectation of a gap down were high because of the Asian cues.But the gap in nifty was not too big  more over it stayed above the SAR mentioned in the Market Calls table.Then there was a sudden movement and it took Nifty quite close to recent week highs.

In the market calls table some stocks were mentioned for a short trade while the market(nifty) was still showing bullishness with up swing intact.Its always better to trade in the direction of market so taking bullish trades would have been profitable.Although stock do there own thing because of news,technical factors and sector sentiment,but it pays to be trading in the direction of market trend

Same will be applicable for tomorrow's trades, reliance,dlf, tatasteel, are coming  up as short trends but its best to avoid them as general market is bullish.In fact dlf is about to complete a reversal(it ended the day at the high point thus chances of a gap up tomorrow is very high) and reliance is completely sideways since ages.

More later

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