Dated :- 11.12. 2016                                 NIFTY SPOT : 8261.75

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Dec 04, 2016.

It was mentioned that Nifty has strong support at 7950 to 8000 and Bank Nifty at 18100 and key for the current week is held by Bank Nifty. If Bank Nifty does not fall further  and rather takes support and starts moving up we are willing buyer in both Nifty and Bank Nifty both.

Same happened in spite of all the bad news from all fronts Bank Nifty took support at 18100 on RBI policy day and started moving up.

I hope readers would have benefitted from the blog as they would have been able to buy.

Now What ;-

Remember that Nifty is still not out of the woods.

Do not stay or welcome more on this rally.

Book profits from long positions in both Nifty and Bank Nifty and step aside.

WHY I am saying to book profits and step aside.

Because

If we want to trail the long positions then the trailing stop los is coming at 8053 closing basis. It is wide enough around more than 200 point from current levels.

We do not want to keep such a large trailing stop loss. 

However, we wanted to book full profits around 8340. But simultaneously also we do not wanted to carry our long positions after Monday.  

Thus tomorrow book full profits and step aside.

We FOMC meeting in US also in coming week. Keep an eye on that also.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.