STOCK MARKET VIEW BY SACHIN AGGARWAL : January 2018

Sunday, 28 January 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 28.01. 2018 NIFTY SPOT : 11069.65

Hi readers,

Nifty moved up in the week.

Although we maintained our view not to buy in that week.

Same was also reflected in the Mid cap Index which was down and out and all over the place.

Nifty was up in the week and most of it might be due to expiry.

Nifty is in the overbought zone. And waiting for correction to happen. But the point is that it is giving only time correction again and again. Moves up and stays there for some time and again moves up.

Thus the overbought indicators are not having their impact.

Because remember one thing that whenever Nifty is overbought, it just have to give the correction and if it starts spending time their then the overbought indicators acts as the fuel for Nifty to go up.

Same is happening now also.

Chart attached. You can see in the chart that the line above the price when touched correction is inevitable. But Nifty and Bank Nifty is not touching that line.

Now What :-

For the coming week.

Well as a policy since Nifty is in overbought zone and RSI is above 80 just recently violated the -ve divergence zone. I will still stay away from buying and just step aside and watch Nifty from the side lines and will not be a buyer at all.

Although Nifty is showing that it is capable to touch even 11300.

But Rather below 11002I will look for correction. Because I always believe that indicators are your friends. Never trade against indicators.

Also in this week we have budget also.

Thus stay light and stay on side lines and keep yourself always available for the correction when ever indicators provide that.

Without and correction I will not be a buyer in Nifty. Come what may.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday, 21 January 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 21.01. 2018 NIFTY SPOT : 10894.70

Hi readers,

Nifty moved up as was mentioned in my previous blog dated Jan 14, 2018.

Wherein it was mentioned to be a buyer when Nifty is above 10698 and Bank Nifty is above 25875. Because above these levels Bank Nifty can surprise on the up side.

And the same happened. As soon as Bank Nifty moved above 25875 it never looked back and moved up up and away and made a high of 26957 and closed at 26909.

More than 1000 points in Bank Nifty and more than 200 points in Nifty.

This is the power of Technical analysis.

Now What :-

Now again the time has come to just step aside from Nifty and Bank Nifty.

Rather I will be looking for possibilities for correction in the coming week.

I will not be a buyer in coming week rather look for correction.

Trade Accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 14 January 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 14.01. 2018 NIFTY SPOT : 10681.25

Hi readers,

Nifty has closed at 10681.25 making Doji's and Hanging man's consequently on daily charts for last 4 days.

One sided move was expected on either side by Nifty this week and it was there. Nifty has made green full body candle.

Although we wanted it to come down and make a red candle. Nifty chose to make green candle.

Important observation is that Nifty has made a gap up on weekly charts.

And charts are showing sustained up move.

Now the levels in Nifty is moving upwards. Till last week it is 10450, below which Nifty is complete sell. Now it is below 10562 below which Nifty will be in a sell zone and below 10596 Bulls will not want to be holding long positions.

And aggressive traders like us would start finding possibilities of Short selling below 10596.

One another thing everybody has to keep in mind is, that, for Bank Nifty keep these 2 levels in mind. Below 25525 stay on sell side. And in case Bank Nifty stays and closes consecutively above 25875 please do not think of shorting Nifty and Bank Nifty because in that case Bank Nifty can show some surprises on upside.

Thus we need to have the combinations of Nifty below 10562 or below 10596 for aggressive traders and Bank Nifty below 25525 to go short for the trade to be fruitful.

Else, till Nifty is above 10698 and Bank Nifty is above 10875 either be a buyer for small profits intraday or step aside.

The coming week is expected to be very volatile one where volatility is expected to increase.

The upside in Market is expected to be rented one which will be followed by reasonable fall in Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 7 January 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 07.01. 2018 NIFTY SPOT : 10558.85

Hi readers,

Nifty moved up and closed at 10558.85.

Frankly we were expecting a weekly close below 10448.

But Nifty on Friday moved up and closed at 10558.

Nifty took the support of 10414 as was mentioned in my previous blog and after that it should have moved towards 10618 quite fast. But since it was staying at 10450 around level for more than 2 days, which meant that it should have closed below 10448 rather below 10414 in the week itself. But Global Markets & Kim Jong Un of North Korea helped Global Markets to Rally.

Now What :-

As per charts one thing is certain that below 10448 Nifty will be in a sell zone. And below 10492 the bulls will not be in a comfortable zone.

As far as the short position is concerned. Keep holding with the stop loss of 10618 closing basis.

Nifty has made a double hanging man pattern on weekly charts. Which is quite rare. And it signifies one sided move on either side in the coming week.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Thursday, 4 January 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 04.01. 2018 NIFTY SPOT : 10490.00

Hi readers,

Nifty has started showing weakness .

AT this time when Nifty is at 10490 spot.

Sell Nifty with the stop loss of 10600 spot closing basis.

Updating the blog during mkt. time 2.44 p.m. around.

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.