Markets are at severe pressure of exit and may test the new lows immediately . If Nifty breaks 2510 Parabolic SAR reverses and say to short in the daily charts and gives profit also. Hence, one can short and wait. All news for a rally is false and we can trade by the reality of chart formations. Stochastics is showing for at least one day fall. At present the US markets are at steep fall leading to further steep fall in all other markets. Better not to trade on long side even if there is a chance of profit. One can first buy a put and if markets take support at 2510 level and crosses 2550 then exit in the put. If 61.8 % retracement crosses i e nifty already breached the level of 2630 then the target may be 100% i e ., 2250.
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