Dated :- 23.04. 2017                                 NIFTY SPOT : 9119.40

 Hi readers,

Nifty moved exactly as was mentioned by me in my previous blog dated April 16, 2017.

It was mentioned to keep holding the balance of the Short position with the trailing stop loss of 9245.

Nifty again came down in previous week and made a low of 9075 and closed at 9119.40.

Readers would have enjoyed that.

Now What -

Although Nifty is not falling with the speed and pace it was expected to come down.

But when I ask the question to my charts, that, Since it is not falling fast should I book full profits in balance of the short positions here and step aside?

My charts says to me, that, there is no reason why the balance of the short position should be closed here.

Thus keep holding the balance of short positions.

Now when I ask my charts, that, what should be the trailing stop loss now?

My charts says that now there are two levels with which the short position can be trailed. One is 9183 closing basis and second is 9222 closing basis.

Since 9222 is more logical and more comfortable level to trail the balance of the short positions, because even if Nifty hits that our trade will be in overall profit.

Thus I believe that the balance of the short positions should be trailed with the trailing stop loss of 9222 closing basis.

Trade accordingly.

Readers should keep in mind that Nifty is making red candles for the last 3 weeks continuously. Thus this coming week is going to be important for Nifty. I am expecting full body candle in the coming week. And remember that full body can be green also. Which may force Nifty to cross 9222 also.

But still I am writing to hold the short positions. Because we have understood that here it is the possibility now in coming week but till it does not rebound it has not bounced.

We have to keep and hold the positions as the charts say. Probability is no reason to close the positions. For that probability we have already booked half positions for trade management.

Enjoy the trade.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.