NIFTY

NIFTY is resilient on the down side. Current scenario does not show any weakness in the trend as of now. We are continuously bullish, of course with a cautious mind set. Still the stance does not change. We are bullish but only target is changed as our previous targets are achieved.

We advise to hold the long positions taken yesterday or those who have rolled over. 6320 will be a closing basis Stop Loss for longs in NIFTY. There are fair chances that we might see a new high. Close below 6320 will be the signal to close all our longs in NIFTY and close below our star level 6240, might generate a signal to go short but that will be decided then at that point in time.