Dated :- 23. 11. 2014

                                                                    NIFTY SPOT : 8477.35

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog.

It was clearly mentioned that till Nifty is holding 8320 only trade available in the ring for Nifty is to search for long side trades.

Nifty on Friday Nov. 21, 2014 broke the range with a bang and moved above 8470. Justifying the analysis that till Nifty is above 8320 look for only long trades.

Now What :-

Now Nifty has moved out of the range and closed above 8470. The trailing stop losses for Nifty should be raised to 8406 level closing basis.

Next resistance level for Nifty will be 8570- 8630. And these are the levels where one should book profits & step aside. I believe that in this market one should not be greedy and “Profit woh hai Jo ghar aa gaya”.

On the other side if Nifty some how, in any case, comes down and closes below 8406 then book full profit from all long positions and step aside. Then, that will be the time for reviewing the chart of Nifty for any possibility of even short selling Nifty. Time will tell.

We have expiry also in next week thus expect volatility.

Volatility index is standing at lowest level for long time now & expect volatility to increase in coming days.