NIFTY is trading in red and closed
at 6744.20. After nine days of upward movement, NIFTY is resting for the time
being. NIFTY is still in the uptrend. A small downward movement will not break
the upward momentum. The momentum will be broken only if it closes below 6600
on weekly basis.
Till then the trend will remain upward and these small
down moves will be considered as retracements and are advised to go
long in
small quantities of course with a strict Stop Loss of 6600. There is no
indication of going short on the market at this point in time. Either one can
go long or can sit aside for the time being. As and when the signal is
generated, it will be discussed and levels will be given to trade short.
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