Going Long!!!

As written in my last post on 1st March, I went long on the Nifty. Well the move has payed off. I squared up my positions couple of days back basically because markets were not doing anything. I reentered yesterday at 5135, and markets today closed at 5200 :)

I think I will square off again if markets touch 5200+ something. My target of 300 points for the year, on the nifty is thankfully getting met in the third month itself so I am quite happy on that.

Keep trading....

Time to go long!

Markets are looking good. Its time to go long...I had made long positions before the budget, it was kind of a risk that I took, however the thing going positively for this move was that the charts were supporting a pattern of receding MACD and moving towards the 0 mark indicating that things would be changing direction soon....This has got validated with the huge buying of FII's in F&O to the tune of 1600 cr in index futures.....

More so now with the Greece bailout package being discussed, things look as if they would be ok for some time....I have taken positions at 4862, and my aim is to make 300 points in the nifty in one year. Cause just with 300 points you can make around 50% return on ones capital...sounds simple...lets see how it goes :)