Somebody is quitely loading up Cranes Software

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Buy Cranes software above 45

Somebody is loading up Cranes software. Keep an eye on it. If closes above 45 and stays above that level for 6 days, consider taking your position. Do not hurry in taking you position. After the quite period it will not double in a day or two. It will give you enough time to buy above 50. We are not looking to make 5 - 6 Rs gain. The pattern it is forming is extremely bullish and should render 50 to 70% gains.

Take your time. Keep watching and then buy above 45

Nifty update is that it is trading on very light volume. Slight downtrend since it closed below 21 day average line. Lets see if it holds. The most critical level is 4600. It will be either be a buy point or exit point based upon its strength at that level. For now we are holding 4900.

If you have read my previous blog, I mentioned that OCT is not a good month to invest and we can see that from the portfolio link above. If you booked profits in last week, you were lucky. Most of the stop loss have not hit yet, thats a great sign. Lets see what tone market takes going forward.

The next catalyst for continued uptrend is missing for now. In fact we have a bad news at our doorstep.

There is big news circulating about dollar strength. If you understand chart, check the strength of this move

http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=6&dy=0&id=p37193263057&cmd=print

This could be huge if gathers momentum since FII's will be forced to sell and convert money into Dollars. Right now they have invested cheap dollars and dollar strenth could change the entire equation.

Remember we are in a bull market until we close below 4200 constantly for six weeks, until then we are in for buying the dips in market. In fact 4200 will be a great entry for us.

Stay alert, Keep your stop loss ready in case you need them. Upside appears limited for now so avoid new investments only manage your existing positions.

Thanks
Anil



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LIVE NIFTY CHART (Spot the buy point)

LIVE NIFTY CHART (Short Term)


Disclaimer: Please trade with your own judgment or with the help of investment advisor. We are not responsible for any financial losses.

Stop Loss: Sell Stock if it closes below this price. It tells you that market has proved you wrong. Accept it.