Dated :- 23. 12. 2014

                                                                  NIFTY SPOT : 8267.00

Hi,

Readers,

Kudos.

Nifty moved exactly as was mentioned in my last blog dated Dec. 21, 2014 pinpoint.

It was clearly mentioned that real test for Nifty’s rebound will be between 8330 to 8380. And this 8330- to 8380 is the level from where Nifty is expected to come down again. It was also mentioned that Nifty is sell on rise.

Last Blog Quotes:-

“Real test of this rebound will be at 8330-8380. Because these may well be the points from where Nifty may come down again.”

Look what Nifty did. It did exactly the same. It made a high of 8364.75 and fell more than 100 points from there to make a low of 8252.85. The fall was relentless and fast.

Now What :

I always say that when ever profit comes so fast one should think to protect it first. Book part profit here and keep the stop loss of cost for balance position and trail the same.

Enjoy the profits.

One point I would like to mention here also is that, with this fall in Nifty follow through is necessary. Balance short positions should be trailed keeping in mind that Nifty should close below 8230 within 2-3 trading sessions from now. If Nifty does not close below 8230 within 2-3 trading sessions from now then one should revisit the charts and think of protecting profits from the balance position also. Because in that case as per the technical parameters Nifty may try to rebound again.