Dated :- 06.04.2014 (SUNDAY)

Dated :- 06.04.2014  (SUNDAY)                  NIFTY  Spot :   6694.35

Hi,

Readers,

Nifty did exactly the same as was mentioned in my previous blog.

Again I have predicted the accurate level of resistance for Nifty.

It was clearly mentioned in my blog dated March 30, 2014 when Nifty was at 6700 that Nifty will face massive resistance between 6718 to 6800.

Look, Nifty found resistance exactly at this level. It made a high of 6776 and came down from there.

This is all technical analysis.

Now what :-

Nifty is facing heavy resistance between 6718 to 6800 and readers of this blog would have been short in Nifty.

Readers might have been short in Nifty at around 6750.

It is recommended to trail the short position in Nifty.

Now how to trail this position :-

See, stop loss for this short position is 6850 closing basis as on today.

But since the trade is in profit, this 6850 stop loss should not be for full quantity.

For some part the stop loss should be 6850 and

For rest of the position good profit should be booked in case Nifty goes down further during the day tomorrow April 07, 2014 OR profit should be booked in that part if Nifty closes above 6709.

Trail the balance short position in Nifty & enjoy the profits.