Apr 04, 2012, 08.08 AM IST | Source: Moneycontrol.com

Stretched on the upside: Mohit Gaba

There is nothing indicating that the up move will come to an end just yet, hence we continue holding long positions unless our stop loss is triggered, says Technical Analyst, Mohit Gaba.

Technical Analyst, Mohit Gaba:

The Nifty opened gap up and traded in a narrow band for the yesterday. The way it has moved up the last three days it looks stretched on the upside to me. A break of 5344 (todays low) would be the first sign of weakness and a signal to close our long positions. However, there is nothing indicating that the up move will come to an end just yet, hence we continue holding long positions unless our stop loss is triggered.

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