Dated :- 29.12.2013 (SUNDAY)

                                                         NIFTY  Spot :   6313.8

Hi,

Readers,

Nifty remained in very small range of 65 points only in last week. Made a low of 6259 and high of 6325.

Now What  :-

View for Nifty is same as was mentioned in my previous blog dated Dec. 22, 2013.

That is :-

There are some times in the market when one has to wait for some time and play cautiously. This is that time.

Because this rebound has to go and sustain comprehensively above 6420 for this rebound to be effective. Multiple technical indicators are showing that crossing 6420 and sustaining above it is not easy for Nifty.

And if Nifty does not cross and sustain comprehensively above 6420 then it will be inclined to come down. For coming week 6200 - 6220 is very important level, below which the Nifty shall trade with –ve bias. Breakdown of Nifty shall be below 6150.

Do not be an aggressive buyer in Nifty wait for it to come down below 6200 when it will trade with –ve bias and below 6150 breakdown level of Nifty. Where there will be shorting opportunities. Trade accordingly.

Till than watch and step aside and wait for next course of action as & when it happens, it will be updated on the blog.