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Wednesday, April 9, 2014

9-4-2014 - NIFTY



            NIFTY has clearly given a breakout, again and it is a continuous process for the time being. As we always state that there is no sense in assuming and predicting the new levels once the stock or index goes into an unchartered territory. Only sensible thing we can do is to follow the trend and trail the Stop Loss. We have stated yesterday that if NIFTY does not break yesterday’s low of 6696 and stays above that, one can buy for a small profit with a strict Stop Loss of 6696 as NIFTY was closed on the support level ( Please refer the chart of yesterday’s RSI ). Still the strategy is same but as we are on the highest level, one can keep
a Stop Loss of today’s low ( 6748 ) and go long for smaller profit. Rest of the situation is same and no need to go short, as and when the opportunity arises, we will be posting it. same as we are posting today for the stock TECHM.



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