Dated
:- 23.07.
2017 NIFTY
SPOT : 9915.25
Hi readers,
Nifty
has moved exactly as was mentioned in my previous blog dated July 16, 2017.
Wherein
it was mentioned that 9948 is the resistance for Nifty for the week and in the
coming week I will be cautious and wait and play for correction.
Same
happened Nifty made the high of 9928 in the previous week and Nifty came down
to 9800 twice, first at 9792 and then at 9838 in the week and the readers would
have enjoyed the same.
Now
What :-
Now in
the coming week I will be looking for buying possibilities that too when and till Nifty is
above 9860.
The
resistance of 9948 was for previous week only & now for the coming week
this 9948 will not be that important thus we will not take 9948 into
consideration. And now the next major resistance is at 10082 to 10150 around
levels.
Nifty
has made hanging man pattern on weekly charts that too with the fact that some
of the index stocks has made similar pattern one week before. Nifty is likely
to be building itself for 150 to 200 points move on either side.
Beauty
of technical analysis is that on lower side we are having the important level
of 9860. Till and whenever Nifty is above 9860 we would like to be a buyer in Nifty
and if Nifty stays below 9860 then look for selling possibilities below 9820
keeping 9870 as stop loss.
Crux is
above 9860 look for buying and below 9820 look for selling possibilities.
Trade
accordingly.
Note
- ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.
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