Dated :- 28. 09. 2014

                                                                     NIFTY SPOT : 7968.85

Hi,

Readers,

Nifty moved precisely as was mentioned in my previous blog.

Nifty came down as predicted. It was clearly mentioned in my previous blog that 7800 - 7850 is major support area. And this 7800 to 7850 level can force Nifty to rebound. Same happened Nifty made a low of 7841.8 and rebounded more than 150 points from there.

Fall to 7840 gave the opportunity to readers of the blog to book more and more profits as was advised.

Readers should note that, Both fall in Nifty and exact level of rebound was clearly mentioned in the blog well in advance.

Now What :-

For the balance short position :

Low risk traders can book complete profits. High risk traders can trail the balance short position with the revised trailing stop loss of 8050. If Nifty closes above 8050 then book complete profits there and step aside.

I would like to inform readers that 7930 is very important level on closing basis for Nifty. Till time Nifty is closing below 7930 short positions can be considered to be very safe. And above 7930 one should not be complacent because if Nifty spends some time above 7930 then it can gain strength and in that case it can force sharp rally upward fueled with short covering.