Nifty - Now what?

* Writing after a good gap of time.


* 6281 can be one of the resistance. Nifty closing above this level can add further bullishness.


* 5587 can be a good support. (May sound funny, looking at where we are now).


* BB on eod and monthly chart are contracting. Rallies can be sold and corrections can be bought, till expansion starts.


* RSI 2 period on monthly chart is 98+. One needs to hedge long positions.


* Nifty gave a break out above rising wedge, which usually is followed by a throw back which can be a good buying opportunity.


* One can hedge long positions by buying deep out of money puts.

* Happy Navratri. Play garba and daandiya dil se !