Dated :- 15.05. 2016                                 NIFTY SPOT : 7814.90

Hi,

Readers,

Kudos again,

Nifty fell exactly as was mentioned by me in my previous blog dated May 12, 2016. Nifty fell as expected and made a low of 7784 and closed at 7814.

Hope readers would have enjoyed the fall.

Now What :-

Now, Nifty should break and close below 7780 within next two days preferable on Monday itself. Means follow through should come immediately otherwise close the short positions and step aside. Low risk traders may not wait till tuesday, they can look for follow through on the down side on Monday itself.

Why I am saying that without follow through move on the downside close the short positions for once. Because, I have an observation about Friday's fall. The fall which was expected to come did come, but, it was the fall of just 6 minutes. We had two bought's of fall, each of 3 minutes and each of around 40-45 points. Means the complete fall of Friday came in just 6 minutes rest of the day it was only sideways. No doubt volume was high in those 6 minutes.

This says that one should be vigil and in the absence of follow through on the downside in next day or two. One may think of booking full profits in short positions and leave these 60-70 points till 7750. Because those can be tricky in the absence of follow through on downside  immediately.

In that case look for selling again below 7750. Because below 7750 Nifty is in a sell zone.

Trail the stop loss to 7897 Nifty spot closing basis.

Enjoy Trading.

Note :- All levels mentioned are Nifty spot always.