Thursday, December 18, 2008

Nifty upward momentum

Today the Nifty Futures closed at 3073 points. I am long on the Nifty. Everybody I speak to wants to know how high will it go or will it go and retest the 2200 lows. My answer is it can go as high as it wants or fall as low as it wants. The advantage of trading on momentum is we can exit longs as soon as the upward momentum changes. And take a short position if the downward momentum gets established. No guesswork. Just trade with the trend. Jai mata di.

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