MARKETS ARE IN EXTREMELY BULLISH MODE. JUST LOOK FOR A DECLINE TO GO LONG. THE DECLINES MAY COME IN THE FORM OF OLD FINANCIAL CHANNELS PLANTING OLD & HARASSING STORIES TO PULL THE MARKETS DOWN FOR THEIR OWN ENTRY AT LOWER LEVELS. LAST WEEK NIFTY FUTURES HAD MADE A HIGH OF 6003 ON 11TH DECEMBER. MOST LIKELY NIFTY WILL MOVE UP TO TEST THE HIGHS OF LAST WEEK.. ON TUESDAY IN SPITE OF NO RATE CUT & IN SPITE OF FINANCIAL CHANNELS TRYING THEIR BEST TO DEPRESS THE MARKETS, NIFTY FUTURES STILL WENT UP FROM THE LOW OF 5838 TO A HIGH OF 5950 TO FINALLY CLOSE THE DAY AROUND 5930 FUTURE LEVELS.
FOR WEDNESDAY A DECLINE BELOW 5912 FOLLOWED BY 5903 WILL AGAIN MAKE NIFTY FUTURES WEAK. HOWEVER, FOR INTRADAY TRADING PURPOSE, SLIDE OF NIFTY FUTURES BELOW 5909 FOLLOWED BY 5900 CAN BE SHORTED FOR QUICK GAINS
TO BE BOUGHT BACK AROUND 5980. SIMILARLY ON THE HIGHER SIDE, RISE OF NIFTY FUTURES ABOVE 5950 FOLLOWED BY 5960 WILL GENERATE SOLID SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS 5970 OR HIGHER LEVELS TO BE AT THE STRIKING DISTANCE FROM LAST WEEKS HIGH OF 6003 THAT MAY BE TESTED ON THURSDAY OR FRIDAY IF NOT ON WEDNESDAY DUE TO THE OPERATORS’ ACTION. SO, LOOK FOR A DECLINE TO INDULGE IN BUYING FOR VERY GOOD GAINS. A FAILURE TO BREACH TUESDAYS HIGH OF 5950 FUTURE LEVELS CAN BE SHORTED FOR GOOD INTRADAY GAINS BY HAVING STOP LOSS ABOVE IT.
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