Dated :- 22.01. 2017                                 NIFTY SPOT : 8349.35

Hi readers,

Nifty moved exactly as was mentioned by me in my previous blog.

Wherein it was mentioned that Nifty is in a no trading zone and is stretched on the smaller time frame charts.

It was clearly mentioned that in such like chart formation where the smaller time frame charts are stretched Nifty always finds it difficult to go higher.

Nifty exactly did that and could not cross the resistance of 8460 and fell from 8460 to close at 8349.

Nifty consumed most part of the previous week in small range of 60 points and on Friday ultimately it fell to close at 8349.

Now What -

Now still Nifty is in a choppy terrain.

Nifty is expected to move one day up and one day down type scenario.

As there are only 6 trading sessions left before budget and only 3 trading sessions left for expiry.

Nifty is expected to hover in the range of 8200 to 8510.

Do not expect one way fast move from here in the coming week. Rather it is expected to be combination of choppy and boring trading days ahead.

Strategy is to be stock specific as we do not want to take any call before the budget.

Because this time the budget is going to be more important for the markets.

Thus remain stock specific and as far as the index is concerned stay away from index.

For compulsive index traders who want to trade in index always, come what may, the probable trade for the coming week can be to look for buying possibilities if market goes to near 8200 to 8230 around levels for some points in Nifty.

Trade accordingly

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.