NIFTY Spot : 6276.95
Hi,
Readers,
Nifty has filled the
gap fully between 6188 to 6263 as was mentioned by me in my earlier blogs.
It was mentioned in my
previous blog to book full profits in all the long positions and step aside.
Because booking profits is always good.
Now What :-
Nifty is overbought at
this point of time.
This up move has not
yet reversed the trend which is still down.
Till the time trend is
not reversed Nifty will be vulnerable to sudden and sharp corrections. Which can come anytime.
Nifty has major
resistance at 6330 to 6360.
Do not make any fresh
long position in Nifty till the time down trend is intact. Even look for small
sell opportunities in Nifty during intraday. But these should be strictly of
small stop losses of say not more than 20 points.
Till then stay out and
wait for next opportunity.
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