On
17 Jan 2014, Nifty made a high of 6330 and the trailing stoploss got triggered 6305 for the longs initiated @6245 (trailing gains of 60 points per lot). After stoploss got triggered, NF made a low of 6247 which is very near to drift level mentioned as in 17 Jan 2014 dated post. After triggering stoploss, anyone who might have shorted (6282 NF with stoploss of 6305) should have enjoyed the short level till the drift level (6247 NF), which gave approximately 40 points gain. Again longs got initiated at 6254 level with small stoploss of 10 points (6244 hourly).
Nifty is long with a stoploss of 6156 NF holds daily & 6244 NF holds on hourly.
Targets for the trailing longs 634x/636x/637x/638x range.
Trade
with strict stoploss to safeguard the positions. Break of these
stoploss levels can drift Nifty slowly down till 615x levels. 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.
Hi Raja,
ReplyDeleteCould you please let me know how can we understand the exact entry ?
Anandha
Anandha, Entries are always as close to or at the levels given in the blog. For stoploss part, read the guidelines section.
DeleteSometimes during the intraday, there will be an update if there is an opportunity to do the trade.
Delete