2010-03-08, 22:48:50

The uptrend in nifty started 4718 and then strengthened after budget has lasted more than 400 points now. 

We entered into long trade @ 4933 and have booked 200 points profit till closing today. 

We are still long on nifty and the up trend appears intact still.

For tomorrow the targets are - 5150 and above. Immediate supports for nifty are 5095, 5066.

Since more than one week now, Nifty has been giving successively higher close everyday. This is a good sign for the up trend.

It is however tempting to go short on nifty after every rise and most people tend to believe, it may turn anytime. 

This is your mental trap. Most people get trapped into predicting the next move and then are unable to decide whether to be short or long.

Market prediction, according to me, is best avoided. I prefer to follow the trend.

Remember - Trend is my Friend.

Enjoy the ride for now.