Nifty Technical Analysis Outlook for 10th June

Nifty as on 07 June, 2013 5881 (-104.95) Weekly Chart

Nifty as on 07 June, 2013 5881 (-104.95) Weekly Chart

Nifty as on 07 June, 2013 Daily Chart

Nifty as on 07 June, 2013 Daily Chart

Nifty took support where it was expected, now what next?
After moving in round ladder, last week Nifty gave away some gains, and closed in red, but ride was not smooth, it was quite choppy and didn’t give more chance to traders. It happens when already range is too small, and even in that market gives whipsaws, no matter how smart you are, or how sound your trading strategy, you are bound to give stop losses, unless and until, you book your profits at regular intervals, without expecting much from a single trade and strictly follow your stop loss. I know it is difficult to preach than say, but time and again you have to learn from your mistakes.

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