Yesterday's market move was kind of picture-perfect. After opening with a Gap-Down, the markets traded in a tight range and closed with a Gap-Down, just near the mid-point of the day. For the day, the markets will continue to trade within the range of yesterday's High-Low and any move outside this range will propel the markets in that direction. The chances of breaking the range on the upside are substantially higher.
Continue to remain long on the NIFTY & add to your longs.
Conservative traders can keep a closing SL at 30378/8906.
Avoid trading in stocks outside the F&O universe and keep SL at the stock level as well as at the Sensex/Nifty level.
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