STOCK MARKET VIEW BY SACHIN AGGARWAL : November 2017

Sunday 26 November 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 26.11. 2017 NIFTY SPOT : 10389.70

Hi readers,

Nifty and Bank Nifty moved as expected and as was mentioned in my previous blog dated Nov 19, 2017.

Wherein it was mentioned that Bank Nifty will not move up from here because of the indicators and Nifty will not cross 10410.

Same happened.

Bank Nifty stayed there only for the whole week in small range.

And Nifty made a high of 10404 in the previous week. Respecting our level 10410 and closed at 10389.70.

Now What :-

Remember one thing that whenever Bank Nifty has made a small candle on weekly charts it has moved in a big way in the coming week/weeks.

Together with the fact that Nifty has not crossed the level of 10410 in the previous week. The trade which is available is to go ahead and short the Nifty at CMP i.e. 10389.70 with the stop loss of 10492 closing basis.

The small stop loss of 90 to 100 points is not relevant here and should not be cared.

I do not mind taking the trade early without waiting it to come down and wait for further final confirmations. Together with the fact that Bank Nifty has already given the breakout of Cup with Handle pattern but could not move up from there.

Because if and when it will start falling the speed will be fast and the stop loss will be bigger then.

No harm taking an aggressive trade here with the stop loss of 90-100 points. Let the stop loss hit. Because as on today as Nifty has not crossed 10410 there is no justification to buy it today. And when it is expected that good and big move is expected to come in coming days then go ahead with the trade which is there as on today. Which is sell trade.

Keep the analysis and strategy simple.

Simultaneously keep an eye on Bank Nifty, spot who's stay below 25720 will a the first indication that it wants to show weakness.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday 19 November 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.11. 2017 NIFTY SPOT : 10283.60

Hi readers,

Nifty was all over the place dancing on the news from different places.

But the fact is that we are staying at 10283 almost near to the previous week's close.

Bank Nifty has given a breakout of Cup with Handle Pattern and Nifty has made a bullish Kicker Pattern on daily charts.

Simultaneously Nifty is in the process of potential Bearish Head & Shoulder Pattern.

There is a some Dichotomy in Nifty and Bank Nifty.

Now let us understand the Bank Nifty Chart first. It has given a breakout of Cup With Handle pattern which is considered Bullish. And the targets are approx. 2000 points in Bank Nifty from here.

And this Cup with Handle pattern is considered very bullish pattern and its breakout is considered a strong breakout.

But my charts and my indicators are saying that Bank Nifty has reached at such a level where it has stretched my indicators so much that they rarely stretch further from here on immediate basis.

When I analyse the Bank Nifty chart and my indicators simultaneously, then I am forced to believe on my indicators as always. Who have rarely allowed any security to go beyond the level they are stretched like today. It requires an Ultra Strong news to do that. And Who knows MOODY's Rating upgrade may prove to be one of that.

And if the indicators do not allow Bank Nifty to move further then it would mean that the breakout of Cup With Handle will fizzle out.

Now let us look at the Nifty's chart, Nifty has made a bullish Kicker pattern on Daily charts. Which is also considered as strong pattern. And combining it with the bullish Bank Nifty pattern mentioned earlier the scenario is interesting.

Important thing is that Both Nifty's pattern and Bank Nifty's pattern has the habit of going up run through without wasting time.

But as per my indicators till the time Nifty does not negate the level of 10410 comprehensively, I would not be inclined to buy.

And remember that the comfort level for the sellers is only below 10172.

Charts are giving an indication that the coming week is expected to be a big body candle on either side. And Considering the indicators the coming week will be going to be very important and interesting to watch.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 12 November 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.11. 2017 NIFTY SPOT : 10321.70

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Nov. 05, 2017.

It was clearly mentioned that Nifty is expected to come down in the week. And Nifty did exactly the same it came down and made a low of 10254 nearly 250 points down from the high of 10490.

The level of 10496 was also mentioned in my previous blog and Nifty made a high of 10490 and came down.

Readers of the blog would have enjoyed the down move in Nifty.

Now What :-

Book profits from the short positions and step aside.

Enjoy the profits.

Nifty has made a bearish engulfing pattern on weekly charts.

The pattern will be active when Nifty starts closing below 10206.

Till then pattern is not active and will be taking rest.

Smaller time frame charts are indicating that they might not allow Nifty to close below 10206.

Thus for the mean time just book profits and step aside.

Wait for the next move of Nifty to come.

Till 10206 is protected Nifty can or may surprise on the up side as this 10250 around levels are important support of multiple indicators.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 5 November 2017

Nifty Blog by CA. Sachin Aggarwal

Dated :- 05.11. 2017 NIFTY SPOT : 10452.50

Hi readers,

Readers of the blog would have been able to book profit from their long positions at around 10350 on Monday and stepped aside.

Nifty stayed there and made a high of 10461 and closed at 10452.50.

Now What :-

View is still the same.

In the coming week I will not be interested in buying Nifty further.

Rather in the coming week I expect Nifty to stay in a small range or either come down.

Nifty has started making rising wedge pattern on daily and weekly charts. Which is a bearish pattern and the breakdown of the same has yet to come. But since the pattern is their it is stopping me from buying any further.

Now without any dip/correction I will not be interested to buy Nifty further on immediate basis.

If and Till the time Nifty is above 10496 just stay out of the market.

Whenever it is below my analysis for the coming week is on.

Where I expect Nifty to trade with -ve bias.

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.