Sharp Rebound

Shorted the nifty at 5030 yesterday, covered it at 4940 (luckily) today. So got around 90 points from Nifty. Now the level of 5070-5090 becomes very very important to see. If Nifty breaks over the 5070-5090 level, then I dont see much of a possibility of a break down. . .Trading on Nifty is becoming increasingly tricky, and although I made 90 points on the Nifty (and thankfully most of the calls I am making are more or less accurate) yet it is difficult to make money...so its not only important to know app what is going happen, but also use the right setups to ride profitably these trades. Like for e.g. day before yesterday, it was impossible to predict if Nifty would go down, yesterday it was still predictable, but if someone would have shorted yesterday and not covered today then there would have been loss instead of making any profit....

So where do we go from here...caution is very important...now more so than ever...I dont have the conviction to go long and nifty is not allowing to short for a long time...lets see will keep on posting if I find something interesting. And yes I sold off Paradyne (Glodyne) for no profit no loss...though its a multibagger, yet when markets go down, all stocks go down with it....lets hope Oct end is nice shopping time :)