The markets have moved between 4855 and 4887, two of the pivots we identified yesterday.Refer to this.
The move which we were waiting for yesterday, has materialized today.Never mind.
I was clear that a break of 4824 did not present a good risk-reward opportunity for a short in the short term.
I’ll post some short term charts shortly.
Trade Alert : Nifty
Description : Buy Nifty
Price : Above 4891
Sl : 4870
Target : 4922
On the downside 4844 needs to be protected today by the bulls.
The market is not efficient; however, the mechanism
for establishing the current trade-able price.