Nifty Blog by CA. Sachin Aggarwal

Dated :- 04.03. 2018                                 NIFTY SPOT : 10458.35

                                                                                                         

Hi readers,

Nifty moved exactly as was mentioned in my previous blog.

Nifty was expected to take resistance at our important level of 10611 and it did exactly the same, It made an intraday high of 10631 an fell down from there and then made a low of 10447 and closed at 10458.

As expected and mentioned in my previous blog Nifty has also made bearish engulfing pattern on Monthly charts.

Now What :-

Now for the coming week. The view is that between 10340 to 10536 Nifty is in a no trade zone and above and below the levels mentioned Nifty is expected to give tradable move on either side.

Above 10536  I  will look for small buying possibilities in Nifty for the week with a small stop loss on closing basis. And below 10340  I will be looking for selling possibilities.

Simultaneously for Bank Nifty also the level of 24788 ( Closing 24902) is important on the down side. It is only below 24788 that I will look for selling possibilities with a small stop loss on closing basis. Otherwise Bank Nifty above 25180 and with combination of Nifty above 10536 I will look for buying possibilities for the coming week with a small stop loss on closing basis.

The coming week will be a tricky one where one should be very careful about the levels and the side of the trade one should be at. Because a reasonable move is expected in coming days in Nifty and Bank Nifty either side.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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