Accumulate short positions on swing highs

Accumulate short positions on swing highs in Nifty and bank nifty .

Fed begins QE taper: Will Indian stocks come under pressure? http://profit.ndtv.com/news/market/article-fed-begins-qe-taper-will-indian-stocks-come-under-pressure-375282 The rupee is also likely to come under pressure. India’s current account deficit has come down sharply and for the full fiscal CAD is expected at less than 3 per cent of GDP (as compared to 4.8 per cent in 2012-13), but heavy selloff by FIIs may pressure the rupee. And that in turn will drive stocks even lower.

Trade in Nifty as per these levels 

Buy at / above: 6321   Targets: 6336 – 6356 – 6376 – 6396
Stoploss : 6299
Sell at / below: 6300   Targets: 6282-  6263 – 6244 – 6224-6206
Stoploss : 6320

 

 

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Accumulate short positions on swing highs