NIFTY has given a close at 8140.45. Today’s close is
a flat close with a positive bias. We might feel that the market is over heated
and over bought, but technically no strong indication has emerged for booking
profit and going short. That does not mean that the trend is permanent. But at
this point in time short selling in
NIFTY is not advisable. Any good and strong
signal will be discussed here and the levels will be provided to initiate the
positions. For now the targets and Stop Losses are same as previous day. Fresh long
traders and old long holders can ride the rally with a strict closing basis
Stop Loss of 8010 for fresh position takers and 7970 for old long holders. Trade
accordingly and trade safely.
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