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.

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly, Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly Nifty Blog Weekly     --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------