Holding at CMP of 6765 and above for Nifty is a good thing but it will be better if crosses yesterday's high and even closes above it.This would mean effectively the rally is set for a ride till 6920 or even above.But then one has to wait and see if it sustains these levels for long.
Is it safe for buying, the advise is to invest small and use today's low as the stop loss. if does cross 6800 then invest a little more, and ride with it till 6830 to 40 if it breaks this level convincingly then ride up full throttle and start booking profit above 6910 spot levels.
Conversely if the market does fall exit at the sl given and wait for it to either bottom out at 6706 levels or maybe even fall further. If it goes below 6685 then we could see 6635 or 20 levels.Which is a source of major strength and from where it will reverse strongly.Lets hope we do not have to wait for these levels to come and the rally hopefully has started.
Is it safe for buying, the advise is to invest small and use today's low as the stop loss. if does cross 6800 then invest a little more, and ride with it till 6830 to 40 if it breaks this level convincingly then ride up full throttle and start booking profit above 6910 spot levels.
Conversely if the market does fall exit at the sl given and wait for it to either bottom out at 6706 levels or maybe even fall further. If it goes below 6685 then we could see 6635 or 20 levels.Which is a source of major strength and from where it will reverse strongly.Lets hope we do not have to wait for these levels to come and the rally hopefully has started.