Dated :- 31. 05. 2015

                                                                  NIFTY SPOT : 8433.65

Hi,

Readers,

Nifty moved within the range in the volatile expiry week.

Readers would have booked complete profits from their trailing part long position and closed their long position when Nifty went below 8332.

Readers would have noticed that even after so much of volatility Nifty gave high respect to the level of 8332 which was mentioned in the previous blog. It continuously closed above 8332 but it was only the expiry day when Nifty closed at 8319 just 13 points below 8332 and from there it went up to close at 8433.

Now What :-

Nifty charts is showing strength at present.

This coming week is news heavy and we have RBI credit policy on June 02, where the expectations are very very high and Greece debt payment date on June 05, 2015.

Nifty’s move in next week will be derived by news.

But I would like to reiterate that Nifty’s overall trend is down till Nifty is below 8700. It is only intermediate up move of Nifty.

Thus trade with care.

On upside the targets for Nifty are 8520, 8627, 8714.

On the down side this intermediate up move is expected to vanish if Nifty goes below 8200.

To update the readers on technical front Nifty is standing just on the neckline of the big Head & Shoulder pattern on weekly chart.

Trade Accordingly.