DOJI again creating confusion for market , better to trade light this week

wooo ....

This is a strange day :) .. The pivot for tomm is same as close today :) . Nifty is making some DOJI these days inclding one today .



If you see 6 months charts of nifty , ADX is declining suggesting the weakness in trend , Its not a signal to SELL , but just to be cautious :) .

Better to trade light now !! , Dont take short positions just now , but wait for the moment and dont get caught in the madness of panic buying , This time if markets move fast and break 5000 mark , It would be wise to then wait and look for shorting opportunities .

At the time of writing , US markets are flat with little down moves . Markets are too confused all over the world on direction

Important Levels for Tomorrow

R2 4,303
R1 4,270
Pivot 4,238
S1 4,205
S2 4,173

Strategy

- Better to trade light tomm (actually whole week because of expiry) .
- Better to long positions based on oscilators signal (buy when RSI and Stocastics dip to oversold).
- BUY only above Pivot .

Disclamer : I hold a 4100 CA bought at 140 and it closed at 152 today . Looking to carry it further if its in profit , else i will sell it once Nifty hits below 4200 .