23 January 2014

As mentioned on 22 Jan 2014 post (6295/6282) Nifty corrected till 6291.6 and Intraday added longs at 6295 with stop of  6272 gave target of 636x and closed intraday longs at 6361 (NF made high of 6366). Hold the trailing positional longs (taken at 6254) for the targets with stoploss given. Only trailing longs are carrying for higher targets. Book the longs fully near targets.

Nifty is long with a stoploss of 6156 NF holds daily & 6247 NF holds on hourly.

Targets for the trailing longs 637x/638x/639x/641x/645x range. 

Trade with strict stoploss to safeguard the positions.  Break of these stoploss levels can drift Nifty slowly down till 6247 levels. Break of 6247 can drift till 6156. 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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