As we are witnessing a regular move
of all time high every day since last one week. On Friday we did have mention
that NIFTY might face a stiff resistance between 6745 and 6770 and we can see
that since last two days NIFTY is not able to cross 6770 and sustained above
that and closed above that. One can safely assume that NIFTY might continue its
range bound move. One can very well trade
long if it is closing above 6770 and
keep a Stop Loss of 6700 on closing basis for fresh longs initiated. And keep
on riding the profits in NIFTY if they are holding longs and keep a strict Stop
Loss of 6600 for every old longs.
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