Dated :- 03.01. 2016                                 NIFTY SPOT : 7963.20

Hi,

Readers,

First of all

HAPPY NEW YEAR TO ALL.

May GOD Bless you and fulfill all your Dreams in this year 2016.

Nifty moved within the range as was mentioned by me in my previous blog.

And Nifty is still within that range.

Now What :-

As I have mentioned in my previous blog also that Nifty has to move above 7997 as early as possible for continuing to maintain my bullish stance on Nifty. Failing which Nifty can easily give away 100 – 170 points or even more which will be pain full to traders.

Now the time has come when one should not be complacent. Book most of the profits on Monday, Tighten the stop losses to 7903 for balance position.

The overall view is that for further move up Nifty has to cross and close comprehensively above 7997 within next very few trading sessions. If Nifty does not do that than there are high chances that 7800 or even below levels can be visited again.

In any case I am interested in Nifty long position only for next 2-3 trading sessions. That  too if Nifty crosses and closes above 7997 run through and non stop from here.

If the above does not happen than I would like to book full profit in Nifty and step aside.

Trade Accordingly.