Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.05. 2020                                 NIFTY SPOT : 9859.90

                                                                                                         

Hi Readers

Readers would have enjoyed the up move in the previous week.

As it was mentioned that it is the last week for the up move to happen from consolidation, otherwise it will be too late.

And Nifty moved up as expected.

Now What :-

Nifty is at 9859.

The tough resistance is at 9955 which is the closing rate of the first lower circuit on March 13, 2020.

On the lower side. The level of 9458 is important for support.

Thus in the coming week I would like to see how Nifty behaves.

Close above 9955 will give fresh momentum to Nifty even in the stretch smaller charts.

The coming week For Nifty is to be watched.

Nifty has already overdone the current week levels in week gone. Nifty has moved to the higher of 9859 which would have been expected in coming week if Nifty would have closed lower.

Thus erratic moves in Nifty is expected in coming week.

I would be enjoying staying out.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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