Though market gapped up on the signal day, retracement gave us entry on Long Nifty trade at 4252 levels. We have traded Mnifty 1 lot with a stop of 3972. Trade is going positive on the weekend closing is very strong on the bullish side. We will hold this position till there is weakness getting formed in the daily charts. On closing above 4600, there is likely weakness on all the indicators.
As this up move is going to retrace bearish divergence on the weekly charts, we need to keep watch on the developments.
First weakness should be used to scale out.
Our Bharti position is intact. Though there was a breach of stop, that was a opening gap and not a confirmed trade. Hence we hold the position with same stop, until further indications. This position has taken quite a long time ans still trailing below entry levels.
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