Dated :- 05.03. 2017                                 NIFTY SPOT : 8897.55

Hi readers,

Nifty has moved exactly as was mentioned in my previous blog.

It was mentioned that Nifty will move in a volatile manner and above 8880 I will be a buyer in Nifty with the stop loss of 8856. Nifty touched a high of 8892 where made a low of 8860 and close at 8897.

Nifty also did not closed above 8903 on Tuesday which we wanted to see where it is closing on Tuesday.

It was also mentioned that book small profits and take each day as fresh day as Nifty will be volatile. Same happened Nifty was one day up one day down etc.

Important thing Nifty has done is that it has closed the week above 8880 and is only 5 points away from 8903.

Now What -

Small moves in Nifty and weekly close above 8880 is helping Nifty to consolidate around these levels.

Now, one has to look Nifty in its broader range between 8780 to 8993.

Chartically Nifty is slowly giving time correction and respecting the range of 8780 to 8993.

These consolidation are expected to break on the up side. Thus look for more of buying possibilities in Nifty on every dip with the stop loss of 8780 for the targets of 9000 plus.

Remember that in the coming week we also have exit polls results on March 08, 2017 and the final results of U.P. election on March 11, 2017 which will be  a major market moving event thus low risk traders should play only on intraday basis and others should keep quantity in control and manage the risk.

It is a highly news packed week thus keep booking part profits in between regularly because when News have their impact on markets they do not care for levels and they do not care for technical indicators.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.