June 13, 2014

Market outlook

Markets selloff and nifty closes below 7570 spot... my first trailing SL level. So if you were long on nifty, you are out of trade now.

Whether this will lead to a deep correction or not only time will tell. It is entirely possible we have formation of a higher swing low.

It does not matter what will happen... now time to stay out and let market's settle down and then generate the signals.

On a personal note, I was out of long positions around 7300-7400... then re-entered new long positions in past 2-3 days and got stopped out today.

The last buy signal before a trend reversal will ALWAYS fail.

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