Though technically nifty closed above trendline but I doubt it as false breakout becoz it seems to me that FII have created good trap to attract long and take the position of shorters and fii also creating index shorts from sebi data since last 3 days ..becoz I see vix jumped in last hour but the prices of put option fell which indicates smart money taken away put at low prices from shorters and trapped the longers...another thing the way 6300 put writers are creating position any decisive fall below 6300 can bring big short covering of puts by these 6300 put writes to take nifty much below....So be catious with long..creating any long for few 30-40 points is not recommended here....that my view ..
Posted on: Wed, 22 Jan 2014 12:44:55 +0000
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