Nifty Blog by CA. Sachin Aggarwal

Dated :- 17.12. 2017                                 NIFTY SPOT : 10333.25

                                                                                                         

Hi readers,

Nifty was dancing on the tune of Gujarat Elections.

And ultimately it closed at 10333.25.

Still well within our comfort area, which is below 10410.

Important thing is that in spite of sharp move up due to exit poll results, it did not even threatened our comfort area.

Now What :-

Over the period of time, we have seen, that, till the time charts say, that, keep holding position, it means that keep holding position.

News and events will keep on coming and create impressions. This is the nature this market and World, and technical analysis is the tool and way to keep these noises away and stay with your position confidently.

It helps keeping the trades and trading strategy simple and the volatile moves does not affect your decisions.

It was clearly mentioned in my earlier blogs to go short when Nifty was at 10390 with the stop loss of 10492.

And we have already booked part profits at around 10100 in Nifty when it came down and made a low of 10044.

And it was mentioned that keep holding balance short positions in Nifty.

View is still the same. As Nifty has not done anything to change the view it has not even threatened that it might be willing to do other things and it has always stayed within our comfort area, which is below 10410.

Keep holding the short positions in Nifty with the stop loss of 10492 closing basis. Because even if Nifty do any surprise and close above 10492 and force to exit the balance position also, the overall trade is still keep us in profits.

Because pattern when activated and stays in grip and is stays in profit. Prudence and Rules of technical analysis say to stay with that and make a most out of it by keeping your risk management in place. This is how the trade management is done.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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