Market is at critical juncture. Fii had made lots of short position between 5100-5200 in mid May. Market fall to 4800 level and bounced back up to 5144 level. They have not covered their shorts position till now. Only the have taken this as earning opportunity. they are still confident with their shorts. So either market will reverse from 5145 level or 5240 level. There can be huge short covering rally closing above 5200 level, and this can lift nifty up to 5300 level also. but I expect its chances are very very low. I expect that nifty will hardly cross 5240 level.
So all investors need to be cautious at this level. Without hedging don't left position overnight.
Good luck
So all investors need to be cautious at this level. Without hedging don't left position overnight.
Good luck
