NIFTY : 6029
Hi,
Readers,
The Nifty has done exactly as was mentioned in my previous blog on
July 14, 2013 when the Nifty was at 6009.
Here are the quotes of my last blog “Nifty upside movement is suspicious
but still, Since, breakout is there, traders should have been long and
enjoying the gains. Never trade against the trend even if movement is
cautioning you to be suspicious. What you can do then is, to keep your stop
losses tight and control on the quantity. Trailing Stop loss for those who are
riding the move should be around 5900 levels. Keep booking profits regularly
while riding this trend.”
The targets for Nifty mentioned
in the blog were 6040 and 6136. Nifty gave volatile swings on both sides but was not able
to go near the stop loss level given in last blog of 5900 level, because
charts were giving strength inspite of highly adverse news from RBI.
Nifty has made a high of 6067 today and achieved the first target of 6040 for
two consecutive days but on both days it closed below 6040. Today’s movement of Nifty is again more suspicious
and cautioning. Thus it is advised to book profits here and step aside. Wise
man always protects his profits first.
Enjoy the profits.
Keep reading the blog for next movement of Nifty which may probably be of down
side.
No comments:
Post a Comment