Nifty has closed @5640.
As per the chart posted on 21 Aug Nifty has reached 82.5% retracement.
This level will have a stiff resistance & it will take couple of good news to move ahead of 5640 -5650 band. Closing twice above this level is needed to overcome the resistance which somehow seems difficult.
Rel. Media hit the stop loss o 192 & then rallied.
JK Lakshmi gave almost 10% of return.
Reliance can still move & touch 1000. Maybe it can cushion the fall.
Selected script will give good yield.
Every buying need to be with strict stop loss.
Dangerous Game is about to begin.
Please go through the disclaimer mentioned elsewhere on the blog.
Disclosure : I am holding the positions in above mentioned stock.
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