Tuesday, May 21, 2013

Time to Book Profit In Nifty

Right since middle of April I have been harping on the fact that we should be on sell side. In fact I have advised against investing in stock market at present and instead only trade in stock futures. You can see it in this post here Execute Your Trading Plan Now

Also since May I have been asking traders to go short in the market. Last time I recommended selling Nifty June Futures was at 6230 in this post here Indian Markets Chug Along - But Bulls Beware of Trap

As you can see I had warned bulls in the market to be cautious. Today Nifty June Futures slipped and closed at 6127. Those who have shorted Nifty at 6230 level can think of booking profit as market opens tomorrow and Nifty is around today's closing price. This should give them a neat profit of Rs 5000/- per lot in two days of trading.

Those who still haven't executed any trade can do so tomorrow. If market opens positive look to execute trade recommendations that I had posted today before market opening. You can look them up here Short Positions For 21st May : Stock Futures

Keep trading since you will get umpteen opportunities this May to trade on the short side. All the best!