Dated :- 21. 10. 2014

                                                                      NIFTY SPOT : 7927.75

Hi,

Readers,

Nifty is trading above 7830. Which is a pivot point for Nifty as mentioned in my previous blog. It was mentioned that above 7830 expect rebound in Nifty and Nifty is doing the same.

Now What :-

Full profits should be booked from all the positional short positions.

Rather as mentioned in my previous blog that 7830 is very important level. Now Nifty will be inclined to go up till it is above 7830 for target of 7960- 8000 and 8050. Nifty has made a gap at 7820 – 7856, now till the time this gap is not filled on closing basis i.e. till Nifty did not close below that 7830 level Nifty will have upward bias.

Since we have Muhurat trading on DIWALI and holiday on Friday. Therefore the readers who had made even small long positions for very short term above 7830 on Monday – Tuesday should also book complete profits tomorrow.

Recommendation is to book complete profits tomorrow and enjoy DIWALI.