NIFTY has given a close at 7382.10.
1.20 % UP. The trend is UP and bias is positive. But one cannot avoid a fact
that we are trading on the highest band of the trading range. Again, that does
not mean that one can go for shorting the NIFTY. Any dip must be treated as a
buying opportunity. Any sharp panic in NIFTY and a deep cut must be utilized
for buying fresh. The Stop Loss
must be accompanied with these longs. Three levels
must be remembered as a strict Stop Losses for longs in NIFTY. 7250 and 7050
are the key levels where NIFTY must take the support in case of any correction
or a panic. Breach and close below 6900, will tell us the trend reversal for a very
short term time period. So by keeping these things in mind, one should initiate
the positions.
No comments:
Post a Comment