Date: 22 November 2013
Dear all
As I was
expecting that nifty should come down and it happened . Today nifty was down almost 100 point (2%)
and closed below 6000 mark. We have initiated short around 6200 levels and
today we have closed 50 % position 6040 . Rest position we are carrying with
strictly stop loss of 6040
Now everyone
is asking that where nifty should go ?? will nifty able to hold 5970-5980
?? As I mentioned that below 6160 negative
setup is forming but at this stage I am expection some consolidation in nifty .
Also I am expecting that nifty should take some up side move till 6100, 6160
but this is my assumption and this assumption can only valid if nifty tomorrow
able to hold above 5980 on closing basis and above 5970 in intraday tick…
If you will
see the below nifty chart then you will find that on closing basis below 5980
new vertical count will be start till 5350 with stop loss of 6220.. Once nifty
will break below 5970 the immediate target should be 5730….
Below i am recommending sell call of Asian paints The major trend is up but from these levels i am expecting some correction in this stock so follow aggressive exit with stop loss.
Regards
Raju Ranjan
9975606284
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