Nifty Blog by CA. Sachin Aggarwal

Dated :- 05.11. 2017                                 NIFTY SPOT : 10452.50

                                                                                                         

Hi readers,

Readers of the blog would have been able to book profit from their long positions at around 10350 on Monday and stepped aside.

Nifty stayed there and made a high of 10461 and closed at 10452.50.

Now What :-

View is still the same.

In the coming week I will not be interested in buying Nifty further.

Rather in the coming week I expect Nifty to stay in a small range or either come down.

Nifty has started making rising wedge pattern on daily and weekly charts. Which is a bearish pattern and the breakdown of the same has yet to come. But since the pattern is their it is stopping me from buying any further.

Now without any dip/correction I will not be interested to buy Nifty further on immediate basis.

If and Till the time Nifty is above 10496 just stay out of the market.

Whenever it is below my analysis for the coming week is on.

Where I expect Nifty to trade with -ve bias.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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