14 January 2014

On 13 Jan 2014 movement of Nifty gave the desired targets 6280, 6301 (looking for 6310). Did the part booking near 6253 for the carried longs @6181. At this juncture it appears there is a possibility of correction. If this appears corrective upmove safe traders can do the part booking if tomorrow opens gap up and trail the balance with  stop 6201. For risky players the stop is 6161/6151 NF for higher targets. This will reduce the cost of trailing longs. If NF opens with gap down, then 6235 is going to be safe stoploss for longs and 13 Jan 2014 NF high is stoploss for shorts. Plan your trades accordingly.

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

Targets for the trailing longs 6382/6407/6416. range. 

Trade with strict stoploss to safeguard the positions.  Break of these stoploss levels can drift Nifty slowly down till 612x. Will revisit if the stop breaks else will continue to hold the longs.

If the Nifty moves towards our trade direction, will hold with a new revised stoploss. Else will hold with the current stoploss strictly. Now hold the position until next signal come.

Stay tuned for exact entry in trades.

***Since am going out of station, will try to update on 16 January 2014.

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