Dated :- 15.01. 2017                                 NIFTY SPOT : 8400.35

Hi readers,

Nifty moved exactly as was mentioned by me in my blog on last Sunday dated Jan 08, 2016.

Wherein it was mentioned that go long for higher targets.

Nifty exactly did that and moved higher, it rose by more than 200 points in one week and made a high of 8461 and closed at 8400.

Readers were able to book profits from all their long positions at highest and would be enjoying their profits and now would have stepped aside.

Now What ;-

Nifty in its current setup on daily and weekly charts is still looking good.

But the smaller time frame charts are stretched and we have important resistance zone coming at 8460 to 8550. Smaller time frame charts when they remain in stretch zone in that case Nifty finds it difficult to cross the important resistance levels non stop run through and go higher and higher.

Thus we preferred to book full profits and step aside.

Now in the coming week Nifty is expected to remain choppy and directionless. Sometime up sometime down.

Thus for the coming week Index will remain in no trade zone and it is desirable to be stock specific.

For the coming week I believe that the strategy for playing Nifty should be that, if, it comes to 8250 around level then look for buying possibility for one green day only i.e. for one green candle. Whatever you get in that one day green candle take it and step aside again.

Simultaneously look for selling possibility around 8550 if it reaches there non stop without falling in next 2-3 days for one day red candle i.e. for one day fall and what ever you get in that one day fall take it and step aside again.

Else keep enjoying the profits.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.