NIFTY has closed at 7895.50. Please NOTE that tomorrow i.e.
9-10-2014 is very important reversal or turning date. There are fair chances of
NIFTY to give a big move or start of a big move and we assume it to be
on the
upper side. NIFTY has closed 0.10 %, flat to positive. As stated earlier in our
previous post, 7880 is a real strong support. And 8050 is a real strong
resistance, as we can see that in our chart since last seven days. So please
keep these two levels in mind and trade safe. Sustained trade in any direct
above / below these levels, position can be initiated. If incase NIFTY breaks
and closes below 7880, a short position can be created. An At The Money PUT
option might be a better tool to keep our position, profit and loss in control.
In case of more confirmation, we can add to the position later. Recommendation
will be given here later. Till the time, NIFTY does not break and close above
8050, a long position is better avoided.
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