NIFTY has closed at 7952.75. NIFTY is consolidating
past few days in the same range of 100 points. NIFTY is in a strong up trend,
but one cannot rule out a sudden and sharp correction as we are trading on the
highest band of the trading range. There are no visible indication of any
weakness though, one must keep and hold any long position of NIFTY with
a
strict Stop Loss of 7870 on closing basis. Any fresh long positions must be
initiated only and only if one is willing to bear the 100 points Stop Loss i.e.
of 7870 on closing basis. A breach and close below 7870, will tell us to sit
aside and exit from long positions. Any short signal has not been generated
yet. Any new and strong signal will be discussed and recommended here as and
when it will arise. Till then, trade safely.
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