Dated :- 12.02. 2017                                 NIFTY SPOT : 8793.55

Hi readers,

Nifty has moved in the previous week as expected.

It made a high of 8814 by Tuesday and after that in rest of the week it traded with the -ve bias and ultimately it closed at 8793.55.

During the week it gave two boughts of correction of 100 points on Tuesday and Wednesday and made a low of 8715.

In the last week Nifty was not expected to go up and it did that only.

It was also mentioned that Nifty will be in sell mode if it goes below 8698. But it respected the level of 8698 as it took support twice at 8715 and 8724.

Reader would have been benefitted as they would not have been feared by the sharp correcting moves on intraday basis as they were expected to come.

Now What -

Now in the current week since Nifty has saved itself in the last week it has made Doji pattern on the weekly charts.

And in spite of the fact that on the daily charts it is stretched but still this kind of patterns has the tendency to cross the recent highs, which is 8822, it has made and thus Nifty hitting 8908 around level is not ruled out.

And now for Nifty to come down sell will only be triggered only below 8715 with the stop loss of 8840.

In this week till Nifty is above 8715 it will give both the opportunities to buy and sell because now 8908 on the up side is not ruled out, it may or may not come.

In nut shell sell Nifty below 8715 for lower targets with stop loss of 8840. Also remember that the day it goes below 8715 it has to close below 8698 also otherwise the sell is not triggered. Else till it is above 8780 the probability of 8908 is not ruled out.

Professional traders can play on both sides in Nifty as the range for them will be 8823 to 8715. They can even look for Buying on the lower side of the range for small profits.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.