In our last post #174, we did recommend to cover shorts which we initiated around 5988 in our post #172. We hope that most of you got 215 points on our last short call. Now its a No trading zone for the safe traders upto 5889. Yesterday Nifty has comfortably closed above Long term moving averages indicating a strong support level around 5740 which we had be mentioning since long. Indicators on daily charts are at the mid-way suggesting to support both the bull and bear side equally. Analyzing the chart with waves, we are in a secular bull trend but in the mid way correct phase. We could get a confirmed short term buy call only above 5889. For risk traders we have already initiated long on Nifty at 5760 on our FB page http://www.facebook.com/mavjihari . Follow us there for instant updates and recommendations.
Our Strategy: We recommend safe traders to go long on NIFTY above 5889 and add longs above 5915 with tgts of 5988/6090/6150.