It’s always better to take precautions than to regret.
Nifty has very important resistance level for 3150, so it is suggested not to trade or invest before market breaches 3150. Market is assumed retrace the path which it has shown for the past week i.e. Indian Stock market is assumed to find it hard to breach 3150 and can go again to 2900 for Nifty.
But somehow if market managed to breach and closed beyond 3150, it can see some further upmove and can see the levels of 3450-3500 for Nifty and 10500 levels for Sensex.
Investor’s Strategy:
Indian Stock market has already seen the high of 10500 in January 2009. This time it may not be able to breach the levels of 10500-10600 and at that point surely market will see a negative trend. So for Investors it is important to stay away with cash in hand for some time.
Trader’s Strategy:
Traders can trace Dow Jones and other Global Market for trading but with caution. Trading should be done only after either Nifty breaches 3150(Intraday should be done at this level) or after it see some down trend (short selling would be best option in that case).
So Stay connected and book profits….
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