Whenever Nifty Recovers from Lower Levels-!!!!
I had talked with many people regarding nifty. Everyone want to prefer Nifty shorts or puts at current levels, even every time nifty rallies lower levels. They prefer to go short even if they got beaten. But just check out the Weekly charts for the past two years. You would agree that This is not the right time to short( see the rectangular blocks – with White Candle).Nifty Weekly Charts Shows alteast 4 continious positive weeks after every downfall. So why to short and get trapped at current levels. Remember Even a continious 4 days of fall will be followed by a greater recovery in one single day to close for the week positive.
The only possible psychology is whenever people saw heavy downfall. They want to prefer shorts even if they got beaten. When market shows considerable rise they changed the mind to go long after few positive weeks in nifty… Thats a dangerous sign of loosing wealth.
So be careful in choosing your puts… Be on the right side.
Happy Trading!!!
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Written by: Rajandran R
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