9000- Recent resistance (Going forward it should be strong support)
9120 - Previous all time high (Possible profit booking level 1)
9260 - Fib extension (Possible profit booking level 2)
Trading strategy for Nifty:
1) People holding long positions should book profit at market open if price starts to go below opening price. 9250 & 9120 are critical profit booking levels.
2) Those who want to take fresh positions - Don't chase momentum. It is better to miss trades than loosing money on bad trades.They should wait, market is likely to fill tuesday's gap. For the sake of good risk management, buy on dips or consolidation, take long positions near 9000 with strict SL at 8950.
3) Short sellers - Stay away