NIFTY has taken a support and
bounced from that. A clear and visible support is shown in the chart below. As we
are suggesting any long initiation only if it trades and sustains above 6825 else
please sit aside. For going long one must follow these levels and keep a Stop
Loss of 50 points at 6775. One can
initiate any short position only below 6770
and that too with a very strict Stop Loss of 6825.
We expect NIFTY to move in this range for a short
period of time and soon it will break this range. Whichever way it will break,
it will give a big move. So one must keep a proper Stop Loss if in case it turn
un favorable. In case of you coming in profit in your position a trailing Stop
Loss is advisable as a big move is expected so rather predicting a level and
exiting there, a trailing Stop Loss will be a wiser thing to apply.
No comments:
Post a Comment