06 January 2014

On 03 Jan 2014 movement of Nifty gave trade opportunity to go long near 6211 for Nifty and held the longs at EOD as the trailing stop not got hit. Could not post the trade in the blog but do shared the trade long in a forum. Going forward if you get an opportunity to go long try longs near 6201 and near 6151. Add long positions slowly. This view is valid till Monday EOD. Maintain the strict stop of 20 points from the lower number. BankNifty appearing weak for now but there is a possibility of Bank Nifty can touch 11099/10981 and 11685. Since there is ambiguity is there, moving it out of our trading window for now. Will focus on Nifty and add BankNifty and Stocks when good risk reward come in trade opportunity.

Nifty is long with a stoploss of 6151 NF holds (daily)  & 6201 NF holds (hourly). 

Trade with strict stoploss to safeguard the positions.  

Safe Players can book longs near 628x levels. Risky players carry forward the longs with cost as stoploss.

During intraday when a trade opportunity comes in Nifty, will go either long or short and hold the position until next signal come for the reversal of the trade.  

For the fresh entries enter as close as possible to the mentioned prices and stoploss is 20 points below for NF.

Stay tuned for exact entry in trades.

One of the reader is concerned about the exits are not regularly updated. On 02nd January 2014, gave the part booking and revising the stoploss. Similar to that will be updating the exit levels also in the blog when time arrives for exit level. Also remember that exits are two types. (1) Stoploss level (2) Part/Full booking level.

****Read the disclaimer before you take trading decisions.