August - 7 to 11 - 2017
Above data shows, Nifty is having good support at 10000 spot level for the coming week. Nifty resistance placed at 10170-10180 spot level. Average 5 days last week volatility is 74 points. Monday gap up open may take nifty to new highs.
EU and US weekly index showing strength for the coming weeks.
Buy on dips around 10000 spot level in the index will be good, but Monday we can't expect Nifty to come down 10000 levels, if it goes up and touched 10200 and if it comes back to 10000 in the latter part of the week is not a buy a signal.
It is wait and watch trade for Nifty. Looking for individual scrip seems good idea for the week.
Taking calls on daily basis is good idea for Nifty, since the last week range is 150 pts, we may see the same kind of week, may be 180 - 200 points week.
I think we covered all valid points for the week.
Hope for the Best.
Yours
Zen Trader.
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