Hammer Yet again . . . . ! ! !

Hi All,

After bottoming out today near 8550 on the Expiry day today, Nifty showed a lot of strength and rallied above 8600 (8624), thereby triggering the Long trade. Though, after creating an initial top near 8609, it skipped till 8575 levels, however, managed to come back strongly an close @ 8612.

So, with this close Nifty has given yet another Hammer on Daily charts and a move above today's high, can take Nifty to higher levels. (Refer the chart below)

We have already gone long near 8595-8600 levels, and surpassing 8025 levels tomorrow will ensure higher gains in coming days.

Traders are advised to keep strict Stop loss below 8530-40 for short term trade and below 8460 for a positional Long trade in Nifty...

Cheers