Nifty Long

Went long on the nifty today at 5250. Couple of reasons for this decision

1) From the long term charts of the nifty it is very clear that Nifty has been in an uptrend for the past 1 year, though it will be difficult for many to see this (some things are not so evident as they look). I will post a complete post on why it is so. However safe to say that it is. Although I must confess I did not see this a month back, but on spending a lot of time on the chart I think I could see the pattern that is not easily observable.

2) Fiscal deficit: Policy changes slowly are moving towards fiscal prudence. With 1 Lakh crore coming in from the airwaves auction, and now fuel price decontrol will go a long way inreducing indias fiscal deficit. These are some policy changes that were needed since a long time, and thankfully they have come. These will go a long long way in improving India.

3) Europes tumbling, China is shaky, Japan stagnant, USA recovering. Global money has to flow in somewhere. And India seems to be a good bet at this stage.

Now this current upmove should take us past 5400 (hopefully), hence if one is long, holdingposition with a trailing stoploss is the way to go.