On
16 Jan 2014, Nifty made a high of 6351 and the part booking of longs at nearest targets (6345) as mentioned on previous post, for the longs taken @6245. Now trailing the balance with hourly (safe
traders). Since the risk reward (stoploss vs target) is not impressive, advising traders not to take any fresh trades for the targets until there is any intraday opportunity that flash during trading hours.
Nifty is long with a stoploss of 6156 NF holds daily & 6305 NF holds on hourly.
Targets for the trailing longs 636x/637x/638x/642x/643x/645x range.
Trade
with strict stoploss to safeguard the positions. Break of these
stoploss levels can drift Nifty slowly down till 6244. 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.
****Read the disclaimer before you take trading decisions.
Start booking longs at higher levels and reduce the longs. Nifty may move with in the range and strict stoploss is must for all trades.
ReplyDeleteNF hit the stop and longs got closed. Place a buy order if NF price goes above today's hourly stoploss level. Hold with stop of 6282. If it break 6282, then go short with stoploss of 6305. Manage your intraday trades accordingly.
ReplyDeleteDo not carry intraday positions and hold only positional longs if it trigger (above 6305 NF).
Delete