NIFTY has closed at 8137.85. This close is a flat
close but slightly up and strong bar. We have stated that the “ NIFTY recovered
well and closed quite up. Unless it makes a lower low again, we can expect an
up move again. This up move is expected ONLY in case NIFTY does not break the
low it made today. If it breaks the low, we might see another crack of 50 / 75
points in NIFTY. But in case it does not, we think, the up move will resume and
we might see the upper levels soon. So as of now the long holders are safe. ” As of the trade of Friday, 12th
September, this came almost true and we have witnessed a good reversal rally
without touching the low it has made on the day before. One can
expect a new
rally to start, and in any case the strict and strong support is lying at 8050.
In case of any fresh / old long trade in NIFTY, one must keep a strict closing
basis Stop Loss of 8050 and can initiate a new position or hold the old
positions. Trade safely.
No comments:
Post a Comment