It is almost one month since our last post, but there are not much changes technically. As mentioned previously medium and long term trend is up. While short term trend is down / correcting. This may be one more additional opportunity to add for long term investors. In this down trend NIFTY may correct up to 5450-5550, which if comes will be good level for new investment / addition for existing investors.
If nifty starts trading below 5450, then it will be early sign for possibility of down trend and we should be cautious.
As of now stop loss for long term investor is 5215.7 on weekly closing basis.
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