Nifty50 may trap BULLS in short term and create a zone of sideways
Today NIFTY50 jumped more than 500 points in a single day, in this kind of scenario all short seller have been trapped, in coming days bear will try to bring the market down to the previous level and bull will try to keep it at the previous level and would try to keep it at upper side.
In this fight between bull and bear and so many speculation of news market may create a sideways, also monthly expiry is coming soon and so high possibilities are that market would try to jump up a little before the expiry then after the expiry next move can be calculated.
Trader must conscious that currently market is in downtrend so they must be aware that at every pull there will be short sellers sitting, so unless a good pattern is made for the bull side, small stop loss is mandatory.
Disclaimer:
Note: I am creating this article for learning purpose and make a data for myself. Any entry based on this will not create any liability on me and anyone/anything in concern with me.