NIFTY has closed at 7992.85. As we have mentioned in
our earlier posts, we have exited all the longs in NIFTY, including old longs.
We are just sitting aside and waiting for another good signal to be generated.
As of now there is no strong signal. Neither long nor short. Any intraday up
move, might give us a signal
to go long but as of now we are in between of Long
and Short boundaries. If NIFTY trades decisively and closes below 7880, one can
initiate a short position in NIFTY for the targets of 7780 and 7720. A closing
basis Stop Loss must be maintained then at 8000. A decisive trade and close
above 8050 will lead us back again to initiate the long position with a Stop
Loss of 7950 for short term. Please keep these levels handy and trade safely.
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