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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