STOCK MARKET VIEW BY SACHIN AGGARWAL : July 2017

Sunday, 30 July 2017

Dated :- 30.07. 2017 NIFTY SPOT : 10014.50

Hi readers,

Kudos again,

Nifty has moved exactly as was mentioned in my previous blog dated July 23, 2017.

It was mentioned to buy Nifty for higher targets and same happened Nifty went up up and away and made a high of 10114.85 in the week.

It was also mentioned that the stiff resistance is at 10082 to 10150 and see the same happened that Nifty took resistance in that range only at 10114 and came down to made a low of 9944 and closed at 10014.

Readers would have made money in both up and down moves.

And they were also able to book the profits from long positions at the highest.

Now What :-

Now in the coming week we have RBI monetary policy on Aug. 02, 2017, where there are big expectations of rate cut of 25 to 50 basis points.

Which may or may not be.

Nifty will be prone to volatility due to that.

Technically as per charts Nifty is expected to move in the range between 9880 to 10200.

Range is big may be due to RBI policy.

Trade less in the coming week till RBI policy.

After RBI policy, when the volatile movement settles down keep 9948 as trend decider level for the remaining week. Thus above 9980 stay buyer and below 9920 stay seller with stop loss of 9930 for long position and 9968 for short position for the remaining week.

Trade Accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday, 23 July 2017

Dated :- 23.07. 2017 NIFTY SPOT : 9915.25

Hi readers,

Nifty has moved exactly as was mentioned in my previous blog dated July 16, 2017.

Wherein it was mentioned that 9948 is the resistance for Nifty for the week and in the coming week I will be cautious and wait and play for correction.

Same happened Nifty made the high of 9928 in the previous week and Nifty came down to 9800 twice, first at 9792 and then at 9838 in the week and the readers would have enjoyed the same.

Now What :-

Now in the coming week I will be looking for buying possibilities that too when and till Nifty is above 9860.

The resistance of 9948 was for previous week only & now for the coming week this 9948 will not be that important thus we will not take 9948 into consideration. And now the next major resistance is at 10082 to 10150 around levels.

Nifty has made hanging man pattern on weekly charts that too with the fact that some of the index stocks has made similar pattern one week before. Nifty is likely to be building itself for 150 to 200 points move on either side.

Beauty of technical analysis is that on lower side we are having the important level of 9860. Till and whenever Nifty is above 9860 we would like to be a buyer in Nifty and if Nifty stays below 9860 then look for selling possibilities below 9820 keeping 9870 as stop loss.

Crux is above 9860 look for buying and below 9820 look for selling possibilities.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday, 16 July 2017

Dated :- 16.07. 2017 NIFTY SPOT : 9886.35

Hi readers,

Nifty has made a high of 9913 during the previous week and closed at 9886.35.

Readers would have enjoyed this rise as we were the first to capture and identify the up move at 9540 around levels.

Now What :-

Now Nifty charts is doing some interesting things.

Out of the Nifty 50 Index stocks some important stocks has made big Hanging man or big Shooting star or big doji on weekly charts with big shadows after a sharp rally.

This may be due to the NSE technical glitch on last Monday. But see, charts are charts and after some time in future when present charts will be looked as historical charts, nobody will link that this was the date when Technical Glitch happened. These patterns will be looked as historical patterns.

Another important thing is that the vix is trading at its all time low.

With too much euphoria around vix is trading at lowest.

Combination of all these things and some other indicators I will prefer to be cautious and will be looking and waiting for correction in near future.

In other words, I will avoid buying in Nifty and look for correction to come.

In these type of scenarios one should refrain to give levels, but on a broader basis I would say that Nifty has resistance around 9948 and if it crosses 9948 on closing basis then the next resistance is at 10082.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Monday, 10 July 2017

Dated :- 10.07. 2017 NIFTY SPOT : 9770

Hi readers,

Kudos again Nifty moved exactly as was mentioned by me in my previous blog.

Nifty is flying and moving higher and higher.

Book full profits in Nifty long positions and enjoy at Nifty spot 9770 around. it has already made a high of 9782

I am writing this blog during market time at around 3.21 p.m.

It is all GOD's Grace.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 9 July 2017

Dated :- 09.07. 2017 NIFTY SPOT : 9565.80

Hi readers,

Kudos again Nifty moved exactly as was mentioned by me in my previous blog.

It was mentioned that be watch full and the location and step up is saying that GAP Up In Nifty here will be a important and significant gap up. And if that comes than that gap will take Nifty higher. Same Happened Nifty opened with a gap on Monday i.e. July 03, 2017 and moved up higher.

It was also mentioned that we are expecting a big Body candle this week and the gap up decided that the Big body candle will be on the up side. Same has happened.

Nifty made a high of 9700 and closed at 9665.80 just 10 points below the all time closing high which is at 9675.

Now What :-

Since Nifty has given an up move as per expectation, we would like to book part profits here and hold the balance long positions with the trailing stop loss of at 9520 closing basis which is just below the cost.

So that even if by any chance it is hit the overall trade is still in profit.

Why I have given the stop loss of 9520 and not 9580 because sometimes Market has the habit of testing the gap on an intraday basis for once and then move up higher again. Although I wanted to give the stop loss of 9580 but the testing of gap if it has to happen, then it will be done in the coming week thus for the coming week keep the trailing SL of 9520 closing basis.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 2 July 2017

Dated :- 02.07. 2017 NIFTY SPOT : 9520.90

Hi readers,

Nifty moved exactly as was mentioned by me in my previous blog.

Nifty was weak and was expected to come down and it came down.

Nifty made a low of 9448 and closed at 9520.

Readers of the blog would have enjoyed the fall.

Now What :-

Now for the coming week the charts setup is such that a good movement is expected.

The move is expected to be on the downside and below 9472 the downside momentum will be more.

In the coming week we expect Nifty to make a good full body candle on weekly charts and charts are saying that for the coming week it could be on either side.

But one important thing I would like to Caution here to the readers, that is Nifty has made such a pattern on different time frame charts that in the coming day or two if Nifty stays above 9585 for some time then it may surprise.

Because that is the point from where the short covering may set in.

And if by chance in the next two three days Nifty gives any gap up opening and sustains that gap than be watch full because this is the location where that gap up has its significance and may prove to be an important gap to help Nifty to go up.

Note :- all the gaps are not important. It is the location and technical setup which give indications that which gap is important and which is less important.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Disclaimer:

The views on Nifty and Stocks and calls made herein are personal views of the author of the blog and are for information, knowledge and educational purpose only and not for commercial purpose in any way. Views expressed in the blog are for information and for education only and it may or may not hold good. These views or calls made on the blog are not recommendations to anybody to buy or sell any index or securities. The above views and calls are based on technical analysis. While due care has been taken while expressing these views and calls, the author of the blog, is not responsible for any liability of any sort arising from the use of this blog. Readers of this column and those who buy or sell index or securities based on information in this blog are solely responsible themselves for their actions. The author may have positions in any of the index or stocks mentioned in this column. Readers of the blog are advised that before trading or doing investment in markets please take advise from your financial expert/consultant. Usage of this blog information confirms that user has read this disclaimer.