Nifty Blog by CA. Sachin Aggarwal

Dated :- 08.10. 2017                                 NIFTY SPOT : 9979.70

                                                                                                         

Hi readers,

Nifty moved up and made a high of 9989 and closed at 9979.70.

Readers would have been happy as they were able to book profits from their short positions at proper time as was advised in the previous blog.

This was more or less expected.

Whenever we get two big red candles on weekly charts the next week is normally expected to have either rebound or range bound moves.

Same happened.

Now What :-

Now in the coming week I will not be interested in buying at all.

Rather I will be willing to look for selling possibilities below 9950 for lower targets.

But I will not be a buyer at all in coming week.

See, Important thing is that Nifty is required to give weekly close above 10030 to make us feel that Nifty wants to show some strength.

Till then we are not interested in buying. Rather will be looking to sell to the weakness in Nifty below 9950.

Trade Accordingly.

 Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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