2-9-2014 - NIFTY

                NIFTY has closed at 8121.45. NIFTY has made again a historical highest close with newer high of 8139. As we are in unchartered territory, there are no past reference levels to watch for newer upper targets. Only thing a buyer can do is to hold the longs in NIFTY and trail the Stop Loss. As suggested, NIFTY must be hold for higher targets and Stop Loss can be trailed to a bit higher levels

at 7970 on closing basis for old long holders. For fresh long traders, a close below 8010 must be a final level to exit the longs in NIFTY. Any small intraday dip can be utilized to create fresh longs, but with utmost caution and one must be prepared to get a Stop Loss hit. Chances are bright that we might see a higher level in NIFTY.