Dated :- 20.11. 2016                                 NIFTY SPOT : 8074.10

Hi readers,

Nifty has again hit the targets for the week. It has made a low of 8048 and closed at 8074 on Friday. It was clearly mentioned in my previous blog that the targets for the week for Nifty are 8000 to 8100. Nifty has met that.

I also mentioned that keep an eye on ADX and 20 DMA.

ADX slope has moved up to 36.62 and Nifty is staying below 20DMA. Both are indicating that down trend is at its best.

I hope readers would have enjoyed the profits.

Now what ;-

Well the targets for Nifty are below 7900.

Till now not even a single day there was any threat to short positions and Nifty continuously kept on coming down and the short positions were always safe and secure.

One should keep in mind that Now in coming days time may come which may confuse or threat the short position holders.

Overall analysis is, that, I expect Nifty to come down further and that, down move is expected to be lead by Bank Nifty.

Thus book partial profits here and trail the balance short position with the tightest possible stop loss of 8140 Nifty spot on intraday basis for the lower targets of below or around 7900. Where one should book full profits and close the position and step aside.

Because at that point Nifty will reach the oversold area and from there rebound will not be ruled out.

The best case scenario is that Nifty should break this 2-3 days consolidation on downside again and crack the level of 8000 run through. For this best case scenario to play out Nifty should not even cross 8140.

Thus readers can look to play this best can scenario and trail balance the short positions with trailing stop loss of 8140 intraday basis.

If Nifty breaks 8140 in coming week then it is expected to be in the range bound move. The coming week is also expiry week thus play accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.