Nolvadex doesn't really help with water retention caused by estrogen.
Any aromatase-inhibitor will work. There is an OTC AI available that will work, too. It is named ATD and is the active ingredient in Designer Supplements' Rebound XT, Gaspari Nutrition's NovadexXT, and ALRI's Ultra Hotter. 25-50mg per day (or 1-2 pills) should work to shed the water on your dose of test. ATD is very similar to Extremestane chemically. Alternatively, you can take .25-.5mg of Arimidex, .625-1.25mg of Femara/Letrozole or 12.5mg extremestane every other day.
If you don't want to use an AI, Formestane is available OTC in oral and transdermal forms. I've found this to be effective for shedding water at doses of 200mg/day oral or 50mg per day transdermally. It is cheaper than any of the aforementioned products. Dermabolics sells it under the name E-Form in a transdermal solution-- that's what I've used. You can also get it by the gram in powder form from bulknutrition.com (this site also sells ATD products like rebound xt, etc.).
Hope this helps.