22 January 2014

On 21 Jan 2014, Nifty gave the targets of 633x/634x for the longs taken @6254. Hope safe traders did the part/full booking @6330 and @6340 as suggested in previous post. As given NF 6352 was held on 21 Jan 2014. There is a possibility of correction till 6295/6282. Trail the balance with the stoploss given. Nifty may move in sideways going forward. No fresh trades in Nifty advised as the risk (stoploss 6156) reward is not good at this point.

Nifty is long with a stoploss of 6156 NF holds daily & holds on hourly.

Targets for the trailing longs 636x/637x/639x range. 

Trade with strict stoploss to safeguard the positions.  Break of these stoploss levels can drift Nifty slowly down till 6156 levels. Break of 6156 can drift till 5923. 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.

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