NIFTY Spot : 6583.5
Hi,
Readers,
Nifty did exactly the same
as was mentioned in my previous blog.
It was clearly
mentioned to go long above 6535 with a small stop loss of 25 points.
Nifty went up sharply
and made a high of 6591.5 and closed at 6583. Those who have gone long after
reading the blog would have made good profit.
Profit of around 60 points
today itself. That too on a stop loss of 25 points.
Now what :-
Nifty has given handsome
profit today itself.
As per prudent trading
practice, profit should not be allowed to vanish.
Since it is expiry
week.
It is recommended to
book complete profit and step aside.
Although momentum is
still strong. But booking profits never hurts.
Expiry weeks sometimes
do crazy things.
One should always look
for smooth ride.
Lot of opportunities will
come in due course.
Till then enjoy the
profits.
However high risk
traders can book part profits here and can trail part position with the
trailing stop loss of 6515.
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