Hello Traders,
Good morning, beginning of a new day and a new week as well
Nifty fell to a 3 month low on Friday,and on Saturday we saw a bounce back because of late reversal in US markets (on Friday),
Situation was looking very bad till late Friday evening.Now every body is 'watching' how we trade close to 200 day Average which is at 4650 ,I will give more importance to 4538 (November low),that is very important as going below that level will mean we make a lower low on monthly basis which is very bearish
We don't know what will happen.Its pointless talking about what will happen 5 days/week/months ahead
Our approach should be simple....we should take one day at a time...and watch just the swing and the SAR
Hope we have a good trading day
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