Dated :- 25.12. 2016                                 NIFTY SPOT : 7985.75

Hi readers,

First of all Marry Christmas to all.

Kudos again.

Nifty moved exactly as was expected and mentioned by me in my previous blog dated Dec 17, 2016.

Wherein it was mentioned that I am expecting move in Nifty on one side and it is Bank Nifty magic no. of 18484 which will give us pre hand information that which side Nifty is going to move.

Bank Nifty never even touched 18484 and remained below 18484 all the time in whole week. Giving the readers clear indication that Nifty is going to come down and breakdown will be on the downside.

In these scenarios when Bank Nifty guided the way there was clear short trade in Nifty even before 8050 breakdown. Even if, readers waited for the breakdown level below 8050 in Nifty they would have been able to short Nifty on Thursday morning.

Nifty gave the reward and made a low of 7942 and closed at 7985.

Giving profits to readers.

Now What -

Now book full profits from all the short positions and step aside.

From now onwards for the next few days at least I would not like to short Nifty and whatever it is good for I will look for buying possibilities where ever possible.

My target was around 7880 to 7900 in Nifty on the downside and Nifty has touched 7942.

I am not interested in playing further downside for next few days from here, Because for me 7880 is very important point and it is conjunction of few indicators also.

Charts are giving indications that Nifty may not have too much downside from here. Rather to phrase it differently Nifty is giving indications that downside in Nifty from here may be limited.

Also, 8053 in Nifty spot is coming to be very important and crucial level. This 8053 is also the confluence point of many indicators and the perfect trailing stop loss for short positions holder. In other words above 8053 shorts will start running to cover their short positions.

Thus above 8053 Nifty, it will be the first indication that Nifty is willing to rebound from here in coming days.

Till now from 8800 in Nifty we were recommending the readers to short Nifty continuously. But now onwards my charts are giving me indications that in the present technical setup fresh shorting from here may be risky affair. Thus refrain from shorting and watch Nifty movement. And if rebound starts coming then try to play that. Do not predict the point of rebound, let Nifty decide its level and let it cross 8053.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.