Hi friends, now NIFTY is showing some hope for the bulls, though there are some unexpected news here and there on political issue, and market experts are chopping down common traders now and then yet hope you all able to manage your trade and making money. Last week I wrote about Siemens and it returned almost 5 % on very same day from my desire entry level. Now let me talk about NIFTY for coming week, very frankly if we have to face political uncertainty again this week, then I will act nothing as my chart showing in favor of bull, as per my view in coming week NIFTY may not break 5548, CMP 5651, so 100 point is very very big as a stop loss, I don't know if Nifty will turn around only from here or not, it may be, it may not be. One can go long just from here with an affordable stop loss of 5620, or you can wait to come down for 5590 to take an entry with stop loss 5545. Lets explain whole thing point by point ....
- NIFTY has created a hope for the bulls.
- It is looking tough for NIFTY to trade below 5548 this week. So if you don't dare to trade long better to stay aside. But don't go short, because next bearish movement will come only below 5548
- First entry long @ 5651 with stop loss 5620.
- If first entry stopped out then another entry level 5590 with stop loss 5545.
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