NIFTY - NEXT WEEK

Nifty has closed at a very critical point. We can rather call it a cat on the wall situation. Having climbed up so fast with gap up and not letting the index down for the past two days, the closing looks tricky. It could either be 12250 or 11935 in this expiry on spot and on futures 12280/11967.

Nifty spot closed very near to monthly buy entry level where as Nifty futures has closed above 12138 which was the Dec month high till 12th. This indicates positive bias but a close above 12196 confirms continuation of trend. We need to wait and see.

Most of the retailers have not participated in the rally as there has been no dips in nifty to give a chance for an entry. Adopt buy on dips if you see 11935 spot is on the screen, 11970 in Futures.

The price action in nifty suggests increase in VIX during the mid of next week indicating high volatility. It could be a big swing +/-   250 points next week in nifty. 

Be long only if a daily close is above 12158 and be short if and Only if you see an hourly close below 12081 - (spot) / 12116 ( future).

DO NOT CHASE NIFTY AND BANK NIFTY.

Good Luck!

அவை அஞ்சாமை -Not to dread the Council

பல்லவை கற்றும் பயமிலரே நல்லவையுள்

நன்கு செலச்சொல்லா தார்.    #728

மு.வ : நல்ல அறிஞரின் அவையில் நல்லப் பொருளைக் கேட்பவர் மனதில் பதியுமாறு சொல்ல முடியாதவர், பல நூல்களைக் கற்றாலும் பயன் இல்லாதவரே.

Though many things they've learned, yet useless are they all, To man who cannot well and strongly speak in council hall. 

Those who cannot agreeably speak good things before a good assembly are indeed unprofitable persons in spite of all their various acquirement.