NIFTY In No Man's Land - 5/31/2016

31 May 2016

NIFTY runaway train has been arrived in 'No Man's Land'. Neither we can get long nor we can short from here. We lamented the split personality syndrome of market in last post and laid out a strategy to trade it. Although it is in our defined sell zone, we have not pulled the trigger yet because the price action is not advising us to do so. It is possible that the bubble gets punctured right here along with other global indices and NIFTY goes straight to 8000 and we miss the trade. But we rather miss the trade than getting caught up at the wrong level. To get better short entry we like to enter somewhere above 8250. So let's see what trading opportunity market gives us in coming sessions.