PROFITABLE MODEL POSITIONS UPDATE
In the forecast for Friday – published just before the market open – we gave the trading plans that have triggered long positions (buy) on both the medium-term models as well as the intraday, agressive models! Click here to read the full trading plan.
As per the forecast and the trading plan, the medium-term models went long (bought) on the break above of 2752 (@2752.50). Short term models went long (bought) on the break above of 2745 (@2745.50). Both models are currently sitting on decently profitable positions!
Updated Trading Plans for the rest of the day
At the current level of the index, medium term models are sitting on a decnet profit level of 9+ points, where as the intraday aggressive models are sitting on an impressive profit level of +15.50 points.
Our proprietary models indicate that the 2765 level could offer a very strong resistance to break out of. Thus, considering that it is a Friday afternoon, the positions will be closed with profits if the index breaks below 2760 (say, at 2759.50).
Happy trading/investing!