Bank Nifty has triggered positional square off at 11500 levels. The first round of profit booking was done at 11300 levels.
Nifty has also triggered exit signal if it closes above the 5880 levels.
The partial profits were booked at 5810.
These kind of reversals can be expected as the fall has been quite severe.
Though the daily trend is still bearish so we can short again on next weakness. Will update about that.
Is there any way we could have covered the shorts at 5800 below?
Well I think that such a thing becomes quite difficult. If there is such a system then that will always miss out the larger trend. Prediction becomes difficult while trying to ride a trend is much easier than that.
Though that (riding a trend) also needs a lot of guts to follow as I myself thought that the selloff will not this much. Well I was wrong in thinking that.
Any comments on the above.
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