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.

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