Dated :- 18.08.2013 (SUNDAY)

                                                                          NIFTY  :   5507.85

Hi,

Readers,

Nifty has done exactly what was mentioned in my last blog.

It was clearly mentioned that this market is sell on rise market.

It was also clearly mentioned in my last blog that the levels for rebound in Nifty was 5750, and the same has happened. Nifty made a high of 5754 and again started its downward journey with intense pace and fell 234 points in one day. It is all GOD’s grace.

I hope readers have enjoyed the profits. But remember keep booking profits regularly.

Charts automatically creates the news for themselves.

Now what :-

Enjoy the profits in Nifty and keep booking profits and then step aside. And keep reading the blog for next moves at it happens.

Nifty has its lower target of 5400 and even around 5300. But see, after such kind of intense fall avoid fresh short positions. Rather, be satisfied with your current short positions and keep booking profits regularly. Otherwise the next rebound whenever it comes will eat up your profits.

Now it is the time of IT Stocks to face the music of bears in coming days. Till now they have been hard cookie to bite. But now, coming days are going to be very hard for bulls in IT Stocks.

Also, Bank Nifty has started showing signs that it want rebound in coming days and charts are signaling that Bank Nifty is not willing to go too much below 9100 without a rebound. Avoid fresh selling in Bank Nifty and those who are enjoying great profits in Bank Nifty are advised to start booking profits.

Be careful for the trades on Monday Morning. At least for first one to one and half hour. Because these type of big falls can have margin call effects on next day. Which may or may not come, but, if at all it is there, it will come on Monday morning.

Enjoy the profits.