Dated
:- 30.07.
2017 NIFTY
SPOT : 10014.50
Hi readers,
Kudos
again,
Nifty
has moved exactly as was mentioned in my previous blog dated July 23, 2017.
It was
mentioned to buy Nifty for higher targets and same happened Nifty went up up
and away and made a high of 10114.85 in the week.
It was
also mentioned that the stiff resistance is at 10082 to 10150 and see the same
happened that Nifty took resistance in that range only at 10114 and came down
to made a low of 9944 and closed at 10014.
Readers
would have made money in both up and down moves.
And
they were also able to book the profits from long positions at the highest.
Now
What :-
Now in
the coming week we have RBI monetary policy on Aug. 02, 2017, where there are big
expectations of rate cut of 25 to 50 basis points.
Which
may or may not be.
Nifty
will be prone to volatility due to that.
Technically
as per charts Nifty is expected to move in the range between 9880 to 10200.
Range
is big may be due to RBI policy.
Trade
less in the coming week till RBI policy.
After
RBI policy, when the volatile movement settles down keep 9948 as trend decider
level for the remaining week. Thus above 9980 stay buyer and below 9920 stay
seller with stop loss of 9930 for long position and 9968 for short position for
the remaining week.
Trade
Accordingly.
Note
- ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.
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