SL (spot) adjustment:
Nifty might open with a gap down today because of overnight fall of 800 points in Dow and weak Asian Markets, but that doesn't change our strategy. Lower the SL to 10795 and exit if Nifty is trading below this level at 09:45 ( 30 mins into trade). No trading in first half hour.
Nifty short term movement might be impacted by Dow and global markets but overall the broad movement should remain same. However everything will change if weakness persists for entire day today.
Update (09:43 AM): Nifty trading around 10800 ( above our SL of 10795) adjust SL to 10775. Usually SL should not be changed but in case of gap downs we might have to tweak it basis opening prices.
Update (03:00 PM): Market did go below 10775 levels but the actual candle close ( 30 min chart) was above this level (Currently trading around 10785). So long positions still stand. Keep carrying long positions. Will keep updating if there is any change. Ignore the trading of last 15-20 mins now and hold on to your long position.
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