NIFTY SPOT : 8458.95
Hi,
Readers,
Kudos again.
Nifty exactly
moved as was mentioned in my previous blog.
More and more
profits.
Nifty has
almost hit the first target of 8500. Nifty made a high of 8490 on Friday i.e.
May 22, 2015.
Readers should
also note that Nifty has made a full body candle as was mentioned in my
previous blog that Nifty will make a full body candle. Readers can see the full
body candle in the chart attached below.
 |
| Chart Showing Full Body Candle |
This is the
power of technical analysis.
Now What :-
Book part
profits and keep the strict trailing stop loss for the balance long position at
8332.
Now if the
current move sustains then the next initial targets are 8570 – 8600. Where
readers should book more profits and trail the balance position with the next
trailing stop loss of 8406. However that 8600 to 8700 area is very stiff
resistance area and is also tussle zone but since the position is in handsome
profit it is recommended to carry a small part of position with the above mentioned trailing stop loss.
Low risk
traders of lighthearted traders can book full profits in between anywhere as
per their appetite.
Enjoy the
profits.
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