NIFTY has broken the range of past
seven days, on the down side. We have discussed two possible scenarios
yesterday. One is for going long and second was for going short. According to
our view, we were exactly at the level where entry, target and Stop Loss were
same for long and
short. It went down below 6050 and shorts were initiated as
mentioned in earlier post. As half the target was achieved, partial profits
were taken and rest of the position is carried forward for bigger targets, of course
with proper and trailing Stop Loss. In case of any reversal or a change in
trend, readers will be informed here.
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