NIFTY has closed at 7990.35. NIFTY is up by almost
100 points on closing basis. As we have stated rightly that above 7920, one can
go long and it made a low of 7922 and bounced greatly. NIFTY made a high of
8008.55 and closed at 7990.35. As we have rightly mentioned yesterday, on the
day of reversal, NIFTY turned up. We assume that
the run up will continue on
the upper side but our levels are still remain intact. It neither broke &
closed below 7880 nor it broke 8050 and closed above that. So as far as levels
are concerned NIFTY is still range bound according to our levels and strategy. At
present, we are long but in a very small quantity and we might add more or
square off and go short as per the movement of NIFTY in either direction. Please
keep these levels in mind and trade safely.
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