Nifty for 16 May 08

These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.

It was suggested to maintain uneasy longs while adhering to strict stops. Readers who would have followed that suggestion would now be extremely comfortable and sitting on a small nest of profits.

Even though the sentiment is mildly positive, nevertheless, it is not one of reckless abandon. Therefore, depending on the trading time frame of individual readers, it is suggested to keep raising trailing stops to lock in profits.

We may have a couple of up days next week, and then we could see a correction. As of now, this anticipated dip may be utilised to buy.

Trade happy after planning your trade.