We have seen the momentum taking the Nifty to above 5000 levels. Now time has come to take atleast 75 % of your quantity off the table if you are a short term trader. Even if you are an investor it is not wise to buy at these levels. Its time to remain light and book profit and wait for the next low risk opportunity.
Bharat forge has started correcting and may remain weak , resistance is at 394 and may correct to 340-320.
I have sold October Month out of money Nifty Calls to take advantage of trading holidays and earn on time value.
We are going to have a long weekend ahead , book profit and enjoy ur weekend. I am also planning to go to some destination away from the hustle and bustle of city life.
Thursday, September 24, 2009
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