Dated :- 09.07. 2017                                 NIFTY SPOT : 9565.80

                                                                                                         

Hi readers,

Kudos again Nifty moved exactly as was mentioned by me in my previous blog.

It was mentioned that be watch full and the location and step up is saying that GAP Up In Nifty here will be a important and significant gap up. And if that comes than that gap will take Nifty higher. Same Happened Nifty opened with a gap on Monday i.e. July 03, 2017 and moved up higher.

It was also mentioned that we are expecting a big Body candle this week and the gap up decided that the Big body candle will be on the up side. Same has happened.

Nifty made a high of 9700 and closed at 9665.80 just 10 points below the all time closing high which is at 9675.

Now What :-

Since Nifty has given an up move as per expectation, we would like to book part profits here and hold the balance long positions with the trailing stop loss of at 9520 closing basis which is just below the cost.

So that even if by any chance it is hit the overall trade is still in profit.

Why I have given the stop loss of 9520 and not 9580 because sometimes Market has the habit of testing the gap on an intraday basis for once and then move up higher again. Although I wanted to give the stop loss of 9580 but the testing of gap if it has to happen, then it will be done in the coming week thus for the coming week keep the trailing SL of 9520 closing basis.

Trade accordingly.

 Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.