Dated :- 31.10. 2016                                 NIFTY SPOT : 8629.20

Hi readers,

My warm wishes to all.

Hope everyone would have enjoyed DIWALI  and I pray to GOD that

MAA LAXMI should shower all her blessings on all of us.

I could not give you DIWALI wishes yesterday as I am out of town and will be reaching back in few days.

View on Nifty is still the same.

Nifty has started showing more weakness and now the strategy for coming week  should be that look for selling possibilities till Nifty is below 8742  and the targets for the downside would be 8470 to 8435. And at or around those targets book full profits and step aside. Obviously volatility would also be high there.

This 8742 has become crucial level and stiff resistance.

In the coming week I expect good body candle on weekly charts.

Thus till Nifty is below 8742 look for selling possibilities and above that expect Nifty to be in a range again. In that case the range will be 8850 to 8640.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.