Stay long, buy on dips: Mohit Gaba

The Nifty opened lower and traded in a narrow 20 point range for most of the session. Post midday the Nifty started to gather momentum and move higher giving a good breakout on the upside and very importantly supported by the Bank Nifty.

I went long on the Nifty around 5660 spot levels and I am still holding those open long positions. The Nifty found support from those crucial 5630 zones as mentioned yesterday and I expect this up move to continue towards 5800-5820 levels, based on the way we trade over the next couple of days we might even see a break out above these zones. So stay long and buy on dips.