Dated :- 22.06.2013  (Saturday)           NIFTY  :   5667.65

Hi,

Readers,

As mentioned in my previous blog to book profit at 5700 level as the NIFTY was ready for recovery and Nifty did exactly the same. Nifty rebounded from 5700 and made a high of 5863, this market is sell on rise market as mentioned earlier many times in my blogs and the Nifty is doing the same.

The statement by Ben Bernanke in U.S.A. on June 19, 2013 heavily hammered on the back of Nifty and the fall in Nifty on his statement was relentless (from 5822 to 5655 in single day i.e. decline of 166 points). There was a sell in Nifty at open on JUNE 20, 2013 as it was gap down and good profit should have been booked on the same day.

I believe that as far as possible, before some major news event  “NON PROFESSIONAL TRADERS”  should not have any positions or should have minimum position because in such cases big news event almost take control of the market and the profit or loss from that position is left on destiny, which is decided by that event. It is not sensible to have position ahead of big news event. Only professional traders can handle it.

One can see that even after such relentless fall Nifty took support in the support zone mentioned in my last blog of 5600 – 5650 levels. This 5600 around level will further provide support to Nifty on immediate basis and a rebound is also expected from these levels.

Do not make buy positions in this rebound rather look for sell opportunities.

This week we have expiry also, so volatile movements are expected.