Dated :- 09.04. 2017                                 NIFTY SPOT : 9198.30

 Hi readers,

Nifty has again moved in a range in the previous week.

We were expecting big move in Nifty in the week gone behind but Nifty was not interested in moving and spent time in a range and closed at 9198.30. But ultimately Nifty respected our analysis and made red candle. However we were expecting big red candle but it made a smaller one.

It gave a breakout above 9245 but could not sustain above it and closed the week at 9198.

Now what -

Now the big move we were expecting in Nifty in the previous week may happen in the coming week. May be Nifty has saved its fuel for the coming week when the result season will also kick start.

View is still the same that consider 9245 as important trend decider level.

Now till Nifty does not closes comprehensively above 9265 again do not try to buy and once it break 9245 and closes above 9265 that go and buy. Yes above 9245 we require close above 9265.

If Nifty breaks 9245 and closes above 9265  buy it with the stop loss of 9182 keep trailing it up gradually on daily basis with the thought to make the stop loss at 9245 closing basis.

On the downside once it breaks 9175-9180 it is expected to come down further and the stop loss for the sell position should be 9245 closing basis.

Nifty has made a shooting star pattern on the weekly charts and in the coming week we expect Nifty to make a big candle either side.

And again as mentioned by me in my previous blog I expect that more probability is for Nifty to make red candle i.e. to come down, targets on the downside are 9054 and 8980.

But simultaneously we will not hesitate in buying Nifty if it closes above 9265 and targets on the upside are 9330 and 9372.

Crux is that since Nifty has not sustained above 9245 and  came down it is showing bearish indications. Now for Nifty to be bullish again it has to close above 9265.

Another observation I would like to share with the readers is that since Feb. 01, 2017 Nifty has not made any move of 100 points or more with body on daily charts. It has been more than 2 months for Nifty to do that. Be ready for that kind of move also as it is due in Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.