Avoid aggressive trading position: R K Global

According to a report by R K Global, nifty future is facing tough resistance around crucial resistance of 6060. It closed at 6023.70, down from day’s high of 6059. Most importantly it closed just above its crucial support level of 6000 level, so cautious stance needs to be taken.

We suggests avoid aggressive trading position in early morning trade, though 5960 is still intact, so any kind of short selling is not advisable. Last hour’s sell-off could be an early indication of retracement which would get extended if it sustains below 6000 level. However, we still prefer buy on dips strategy as it is in strong up-trend. Script specific trading strategy is most preferred in such volatile market.

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