Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.12. 2017                                 NIFTY SPOT : 10121.80

                                                                                                         

Hi readers,

Kudos again.

Nifty fell and fell hard.

It was all in the charts. It was clearly mentioned in my previous blog that Nifty is a complete sell at 10390 and go ahead and short sell Nifty.

Nifty fell around 300 points from there and made a low of 10108.

Readers would have also observed the magic level of 10410. It was clearly mentioned that Till Nifty is below 10410 as per our charts it is in a weak zone. And Nifty made a high of 10409.55 dot pin point. Indicators forced it to come down again.

Nifty falling speed was also fast as was mentioned in my previous blog dated Nov 26, 2017 that Nifty will fall with speed.

Reader would be enjoying the fall in Nifty.

And look at the Bank Nifty also It also fell and fell hard. Readers would be remembering that in my recent blogs I wrote that my own indicators are saying that Bank Nifty will not move up from here immediately, as those indicators would not allow it to go up. Same happened. Bank Nifty has fallen more than 800 points from the high.

This is the power of technical analysis.

It is all God's Grace.

Now What :-

Since our selling point was 10390 and handsome profits of around 300 points are coming in no time book part profit here and hold and carry the balance short position.

See, till Nifty does not cross an close above 10490 it will remain in the danger of touching lower levels. Till Nifty does not cross and close above 10490 the structure will remain in danger.

Because the level is far away from here as Nifty has fallen. Now the way to play the trade is to do the trade management. And since the selling point is around 10390 hold the part short position and book profit from the other part. So that even if Nifty give any surprise up move then also the trade will remain in profit.

And our level 10410 will keep acting as big resistance for Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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