I am in long from 3-02-16, my points are below
After sudden correction from 7600 (spot) I go for long @ 7376 with tight SL 7350 ,as risk reward was high.Nifty did not breached 7350 ,it was signal of correction may over and NIFTY trying to bottom out. Today I booked partial profit and holding nifty 2 lots TGT 7575 next 7675. I don't think DOW can impact our NIFTY . Reason 1. China shut down next week http://markets.on.nytimes.com/research/markets/holidays/holidays.asp?display=market&exchange=SHH so we don't need to panic of China.2 FII bought first two days of FEB series (after 18 days consecutive selling they started to buy) 3. Today nifty breached yesterday high and closed above Yesterday high (7475 spot looks strong resistance).4 Bank nifty trying to bottom out first time all banks stocks are green even poor ICICI and SBIN also closed in green.5 Tata Steel /bajaj auto after poor result also looks heavy strong. So I am in long today also and holding NIFTY :thumb:
After sudden correction from 7600 (spot) I go for long @ 7376 with tight SL 7350 ,as risk reward was high.Nifty did not breached 7350 ,it was signal of correction may over and NIFTY trying to bottom out. Today I booked partial profit and holding nifty 2 lots TGT 7575 next 7675. I don't think DOW can impact our NIFTY . Reason 1. China shut down next week http://markets.on.nytimes.com/research/markets/holidays/holidays.asp?display=market&exchange=SHH so we don't need to panic of China.2 FII bought first two days of FEB series (after 18 days consecutive selling they started to buy) 3. Today nifty breached yesterday high and closed above Yesterday high (7475 spot looks strong resistance).4 Bank nifty trying to bottom out first time all banks stocks are green even poor ICICI and SBIN also closed in green.5 Tata Steel /bajaj auto after poor result also looks heavy strong. So I am in long today also and holding NIFTY :thumb: