LONG TERM VIEW --- FOLLOW UP

On 18 june in this post FOLLOW UP  it has been advised to either book profit at 5170-5200 zone or keep previous 2 days low as stop loss.

NIFTY DAILY

If u observe daily chart of NIFTY given above u can realize that NIFTY never gave close below previous 2 days low, so now those who are holding buy position from 4800 level can book profit at 5320-5350 zone or can ride this up move by keeping stop loss of close below previous 2 days low.

WHY 5180-5200 ZONE IS IMPORTANT FOR LONG TERM INVESTOR ?

The answer is hidden in the chart given below --- 

NIFTY WEEKLY

  This is weekly chart of NIFTY, it has taken support ( green arrows ) as well as faced resistance ( red arrows ) so many times at this zone.

So those who booked profit can re-enter on pull back to 5200 level and invest 33% of there capital at this level with stop loss of weekly closing below 5000.

For investing for remaining 66% capital will update according to future price action. As of now weekly close above 5380 is important for further decision making.

 DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.

FOLLOW UP SHORT TERM VIEW

According to this post SHORT TERM VIEW NIFTY gave hourly close above 5190-5200 on Friday. So now it may target 5320-5350, even 5400 may be possible.

Short term traders should keep stop loss of hourly closing below 5190.

DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.

SHORT TERM VIEW

If nifty gives hourly close above 5190-5200 possibility of extending this up move to 5320-5350.

DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.

FOLLOW UP

On Sunday 10 June, in this post  FOLLOW UP --- LONG TERM VIEW , it has been advised to book profit at nifty level of 5200. Last week after consolidation for 4 days finally on Friday nifty closed at 5139.05

Now there is strong resistance for nifty in 5170-5200 range. So those who don't  want   to take risk and willing to lock profit in this 5170-5200 zone. ( probably today only during opening hour ).

At the same time if nifty breaks this 5170-5200 zone it may easily go up to 5300-5400. So those who are willing to loose some part from profit for chances of making more profit can ride the ongoing up trend with stop loss of previous 2 days low.

Today there will be RBI policy announcement so market will be volatile, if there is positive surprise it may go much higher. At the same time if there is disappointment chances of testing recent low around 4770-4800 band are also high. So as of now those who are willing to take risk keep strict stop loss of previous 2 days low on daily closing basis and ride this wave.

Those who are not willing to take risk book profit. New entry level will be mentioned later on if there is correction and if there is no correction one can enter once again if there is weekly close above 5378.75 since long term trend will turn up.

   DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.

FOLLOW UP --- LONG TERM VIEW

On 1'st June in this post ( http://www.kolhapuritrader.blogspot.in/2012/06/long-term-view.html ), we have advised that high risk investors should invest 33% of investible  surplus at 4800-4850 level. On very next trading session ( i.e. 4/6/12 ) it made low of 4770 and started up move.

Right now even though long term trend is now, short term and medium term trend is up. Those who bought arond 4800-4850 should book profit at nifty level of 5200. But to reach level of 5200 it has to clear resistance at 5100-5120 zone. So keep stop loss of previous two days low.

NOTE : - TO TURN LONG TERM TREND UP NIFTY SHOULD GIVE WEEKLY CLOSE ABOVE 5378.75. 

Since there is  GLOOM N DOOM scenario all over world right now, in long term view we are trying to capitalize on short / medium term rebounds, at the same time we will be fully invested whenever there is long term up trend. In this effort we may have to take small losses, but the main objective is we will try to preserve our capital at the same time we will not miss the  long term opportunity.

DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.