STOCK MARKET VIEW BY SACHIN AGGARWAL : September 2017

Sunday 24 September 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 24.09. 2017 NIFTY SPOT : 9964.40

Hi readers,

Nifty fell and fell hard on North Korea news.

It was smelled by us in my previous blog when it was mentioned that in spite of the bullish cup with handle pattern I will not buy and step aside. Because when these type of news will have their impact they do not care for charts and go down hard.

Same happened.

These are the points and times when the charts and analysis help.

Readers would have enjoyed the fall as they were in safe zone.

Now What :-

Nifty has made an Island reversal pattern on hourly charts combined with the fact that it has negated the cup with handle pattern on hourly charts.

Also Nifty has made a bearish engulfing pattern on weekly charts.

Do not even think of messing with this deadly combination. And do not even think of buying till Nifty does not stays above 10147.

Professional would has gone short hard in Nifty at the open on Friday and during the day on the basis of Island reversal pattern together with the confirmations on indicators. Those who have not gone short can go short and keep selling.

Now what to do.

Simple sell and keep selling every rise.

Look for lower levels in Nifty.

In the coming week to my mind thinking of buying is a not a good idea at all.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday 17 September 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 17.09. 2017 NIFTY SPOT : 10085.40

Hi readers,

Nifty moved exactly as was mentioned in my previous blog.

It was clearly mentioned that I expect Nifty to move up above 10012. Same happened Nifty has made a high of 10132 and closed at 10085.

Readers would have enjoyed the up move.

Now What :-

Readers would have booked profits by now.

Now in the coming week I would not like to trade in Nifty.

With the news and volatility around in the coming week related to North Korea and U.S. etc. I would like to step aside and wait for Nifty to take a movement.

Although Nifty is making a cup with handle on hourly charts, it is more visible on Nifty futures charts. Analyzing it technically Nifty is looking good for the targets of 10230 and above levels. But when the news flows have their impact than the technical's do not work.

Thus it is better to stay away from the markets in the coming week.

I always advise do not be a compulsive trader in Market.

Wise men always act as per the situations and when the situation warrants to stay out one should stay out.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 10 September 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 10.09. 2017 NIFTY SPOT : 9934.80

Hi readers,

Nifty closed at 9934.80, it kept on moving in a small range and going nowhere.

Nifty was all over the place in the previous week.

It did not fulfilled any of the condition mentioned in my previous blog and did not go above 9974 in first two days of the week and thus no buy signal came.

Thus our analysis that if it does not go above 9974 in first two days then I will step aside or look for correction proved to be good. As Nifty traded within small range with bearish bias in later part of the week. And it did not move up.

Now What :-

Nifty has been moving in small range for last more than one month.

The view is still the same.

Good tradable move is expected on either side.

But as a Technical Analyst we need to be anticipating things for one side.

Point to note here is that, the breakdown in Nifty will come below 9780 and it is quite far from here.

And we are standing at 9934.

Till 9780 does not break we cannot say firmly that Nifty is and will go down.

Thus till 9780 does not break we do not want to be bearish unless any clear sign comes.

Thus for the coming week only. If Nifty goes down then till it does not break 9780, I will not be trading. Means I will remain stepped aside and watch Nifty's movement. Nobody has put GUN on our head to trade mandatorily.

Rather only for the coming week if Nifty give any bullish breakout then I will be willing to play that with small stop loss and trail it further that too for small profits.

For that Nifty needs to go above 10012 and close above it comprehensively.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday 3 September 2017

Welcome to Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.09. 2017 NIFTY SPOT : 9974.40

Hi readers,

Nifty closed above 9904 and hit the stop loss of 9904 which is a rare phenomenon in the history of the blog. Nifty after closing above 9904 is now sustaining above 9904 and closed at 9974 on Friday.

Now What :-

Now Since Nifty has closed above 9904 and is now at 9974.

For the coming week I expect Nifty to take a move and to make a big body candle on weekly charts in the coming week on either side.

Technically Nifty is in a range between 10070 to 9830.

Nifty has given bullish breakout of ascending triangle pattern on hourly charts. The beauty of this pattern is that if it is real then it takes a move quickly. Otherwise if, and, when, it reverses then it reverses hard.

It also give an indication that good and decent move in Nifty is not far away. Nifty is preparing itself for a good move on either side in coming days.

Nifty has to stay above 9974 for next two days for Nifty to achieve higher targets. And the best part of the move should come on Monday second half and Tuesday First half. I will be a buyer in this period only and that too above 9974.

However if Nifty does not stays above 9974 for next two days then the game will be wide open and it will become no trade zone for me.

In that case either I would like to step aside or will look for correction.

Next to days are important for Nifty.

Another important thing is that when the ascending triangle pattern gives breakout then Nifty should not give any gap down open on any charts. Means that it should not open in red(say around or more than 20 points minus) for next two days. If Nifty does that then for me the significance of the bullish pattern is over and in that case I will step aside. Because opposite gaps in ascending triangle pattern are pattern violating gaps.

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.