A morning walk down Dalal Street | For bulls to regain control, Nifty has to hold above 10,900 levels

Bulls remained in control of D-Street for the second consecutive day in a row on Thursday after falling for eight consecutive sessions. It formed a bull candle on the daily charts.

The index is comfortable trading above its 100-days moving average as well as 5, and 13-days exponential moving average (EMA) on the daily charts which is a positive sign. But, for bulls to regain control, the index has to hold above 10,900 levels, suggest experts. 

On the other hand, if somebody plans to play the momentum then trading with strict stop losses is a better bet for capital preservation. A trailing stop loss below around 10640-10585 should be kept for all long positions.