Dated :- 12.06. 2016                                 NIFTY SPOT : 8170.05

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog dated June 05, 2016.

It was mentioned that Nifty will keep on facing resistance between 8250 to 8350. Nifty did exactly that it made a new high of 8294.95 and fell from there and made a low of 8162 and closed at 8170.

Readers would have enjoyed the profits.

Now What :-

Now I expect Nifty to move in the range between 7970 to 8330.

We have FED policy meeting on June 14 and 15. Where the eye will be on the rate hike decision. This is a big market moving event.

However, I wanted to write that for once Nifty has support at and around 8038 levels, and can take a temporary rebound from there for a day or two. But due to FED policy on Tuesday and Wednesday I decided to hold my thoughts, because when this type of news has their say they do not care for technical's.

Trade cautiously.