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Update as on 29 Feb’13

Nifty as on 28 Feb’13 – 5692.50

Analysis pays.

When I started writing about Nifty, I had one thing very clear in my mind, I will not tell lie to myself, by that I mean, whatever I feel I will share it here, I will check myself whether I am on a right side or not. Yesterday, when I was writing about Nifty Update, I was in dilemma due to Big Budget Day, as volatility kills you anyway, but I decided whatever I feel I will write upfront, no matter I go wrong or right, but fortunately my expectation was right, market fell sharply.

Anyways, still I sense that market has potential to go down further, but subject to market stays below low of 5670 (spot), I am saying this because trading will only be successful, if you follow market dynamics. Very short term trader can take long positions for small profits, keeping this low as a stop loss, otherwise, if not short than stay away, wait for reversal, which is still not evident.

I think it’s long enough…and thanks for showing trust in me….

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