Nifty target achieved!

Nifty has given a wonderful run over 7772 which was my trigger for buy as i mentioned in my post on 25th May (Bears Sucked out completely) and target of 8265 was given on 26th May (IPL Fever on D-street). Though my target was left by just 3 points on Friday but we should have margin of safety of +/-5 points . After such a movement we must a get a interim profit booking to almost 8100 levels. But those who only trades long and safe trades must hold existing position for my second target of 8450 but it might take some time. But FnO traders and risky traders must pull up your sleeves tomorrow for a fresh shorts. As we all could notice in the attached graph that we have a got a “Red candle” at the top with recent high volumes and a trade below 8209 would trigger a fresh shorts for traders in coming weeks. On the downside targets are 7989/7925 and stop loss on upside is 8270. But remember that we should only go short below 8209. And safe traders should just hold longs for medium term but book partial profits below 8209. So all should trading according to your view. Stay cautious for volatility mood.

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