Go short in Nifty on all rallies: Mohit Gaba

Technically we have broken lower and until we don‘t trade above 5840 we should be short or go short on all rallies, says Technical Analyst, Mohit Gaba.

February 28, 2013 / 08:02 IST

Technical Analyst, Mohit Gaba:

The Nifty gave a short covering rally yesterday; traders may not want to have open positions due to the budget & expiry. Technically we have broken lower and until we don’t trade above 5840 we should be short or go short on all rallies.

Now given we have the budget which is a major event look at buying options rather than enter naked futures as ones risk is limited with options. Today could be volatile.

first published: Feb 28, 2013 08:02 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347