NIFTY
has given a close at 7657.40. NIFTY bounced back as we have mentioned exactly.
We still feel and assume that the strategy of buying in dip and going long on
any sharp panic on intraday basis is a buying opportunity. A sustained trade
above 7680 might lead us to the next target around 7800 and then probably 8000.
Stop Loss for any short term long position is at 7500, as we have mentioned
yesterday also. Even though the Stop Loss is a bit bigger but there is no other
strong support nearby than 7500 on closing basis. So please take these levels
into consideration and trade accordingly.
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