Dated :- 07.03. 2016                                 NIFTY SPOT : 7485.35

Hi,

Readers,

HAPPY MAHASHIVRATRI.

Kudos again.

Nifty moved exactly as was mentioned by me in my previous blog dated Feb. 28, 2016.

Wherein it was clearly mentioned that be a buyer till Nifty is closing above 6960 and 7412 is expected. On Feb. 28 Nifty was at 7029.

Same happened. Nifty even moved much ahead of target and made a high of 7505 on Friday.

The analysis was bang on!!.

This is the power of technical analysis.

It is all GOD’s grace.

Now What :-

Now when the target is exceeded and Nifty made a high of 7505 that too very quickly.

It is prudent to book full profits and step aside.

Profit who hai jo ghar a gaya.

Now wait for Nifty to settle down after its mammoth rally.

Till than enjoy the profits.

On my charts 7608 to 7823 is expected to act as major resistance area and major tussle area. That area will be the real test of this movement of Nifty. Till that area is not taken out comprehensively I do not expect Nifty to stand up.

Enjoy the profits.