In our earlier post we tried to analyse the Nifty darling from different angels. As warned earlier the darling took no mercy again today and broke its earlier swing low of 7997 and kissed crucial support zone placed around 7960. Again we reiterate our bearish view on the darling as long as its is dancing below its 200 DMA which seems quite difficult to capture for the bulls. At this juncture any rally or any pull back may prove short lived and traders are again requested to resort to sell on rise strategy. We had also mentioned that such pessimism is the best time to enter select Blue chips like LT, ITC etc.. Traders can refer to our earlier post for further clarification.
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