Dated :- 14.05. 2017                                 NIFTY SPOT : 9408.35

                                                                                                         

Hi readers,

The decision to book whatever small profit was there in the short positions proved to be right again.

As I mentioned that the short covering will kill the short sellers same happened.

Nifty bounced from 9297 and made a high of 9450 and closed the week at 9408.

Now What:-

Now I expect Nifty to trade in the range between 9200 to 9480 around.

Actually I expect it to touch 9258 around levels and then go in a range again.

Actually Nifty has made a special pattern which may force Nifty to trade with -ve or bearish bias in the next one or two trading sessions and after that it is expected to trade in the range.

Thus trade accordingly in the coming week.

Where till the time it is closing below 9437 I would be trading with -ve bias for next two days after that I would like to book profits and close the position and step aside.

Below 9437 is the key point which can be watched on intraday basis also.

If it goes above 9437 then I will step aside and not trade and wait for the trade to come.

Trade Accordingly.