Dated :- 03.07. 2016                                 NIFTY SPOT : 8328.35

Kudos again,

Nifty managed to settle the expiry at 8287 and closed the week at 8328.35.

Now since Nifty has closed above 8313 which was our trailing stop loss for the balance of the short positions created before BREXIT at and around 8230 - 8250  levels. I hope readers would have closed there short positions by now i.e. on Friday.

Readers should remember that in my previous blog I mentioned that Nifty is sell on rise till it gives two days close above 8313. However short positions should be trailed with the trailing stop loss of one day close above 8313 closing basis. Now Nifty has closed above 8313. Readers would be sitting on sidelines.

Readers should now wait for the price action on Monday. If Nifty closes below 8313 on Monday and Monday itself then they can short Nifty again with the stop loss of the high it has made on Monday or again close above 8313 which ever is earlier.

Means Stop loss is high of Monday on intraday basis or  close above 8313 again whichever is earlier.

This trade will be only on the premise that the condition of two days close above 8313 is not fulfilled. In that case sell on rise is still on.

See, this strategy will be initiated only at closing time on Monday or during the day if it seems that Nifty is expected to close below 8313.

This trade is only on the premise that if the condition of two days close is not fulfilling then let us again have the short positions on. Let the market move the way it wants to move. Let it happen on its own.

If it closes above 8313 again on Monday then just step aside and watch Nifty movement this week.

Another important point I would like to share is that in the last five days Nifty has moved slowly and steadily on one side i.e. up. It has not given any roaring and big up move on any of the five days, it was just 40-60 points types move daily. Means in technical terms no big body candle was made.

Now, the charts are indicating that in next 2-3 days there are high chances of  around 100 or more than 100  points move on either side in a single day. Get ready for that.

I believe that there are high chances of it coming on Monday or Tuesday itself.

Thus Mondays open and close will automatically become very important for technical terms.

Now wait for the next course of action and watch the Nifty's movement for this week carefully.