NIFTY has given a close at 7999.15. As stated earlier
in our previous post, 7880 is a real strong support. Today it did cross our
level of 8050, but then again came down and did not closed above 8050. But a
sustained trade above 8050, indicated a bullish signal. As mentioned in our
earlier post, we have initiated our long position after it traded successfully
above 8050, but the positions are in
call options to keep the upcoming mini vacation in mind. We might add more, if it closing above 8050, on 1/10/2014, if everything goes well globally during the week, we might do good in next week as well. So new positions will be added only in next week after analyzing the market and this time positions will be of NIFTY Futures. Please keep in mind that all the long positions must be squared off and a short position can be initiated, once the NIFTY closes below our strict Stop Loss level of 7880. So please keep these things in mind and trade well.
call options to keep the upcoming mini vacation in mind. We might add more, if it closing above 8050, on 1/10/2014, if everything goes well globally during the week, we might do good in next week as well. So new positions will be added only in next week after analyzing the market and this time positions will be of NIFTY Futures. Please keep in mind that all the long positions must be squared off and a short position can be initiated, once the NIFTY closes below our strict Stop Loss level of 7880. So please keep these things in mind and trade well.
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