Nifty Blog by CA. Sachin Aggarwal

Dated :- 27.05. 2018                                 NIFTY SPOT : 10605.15

                                                                                                         

Hi readers,

Nifty moved exactly as was mentioned in my previous blog.

Readers of the blog were able to book full profits from all short positions when Nifty was at lowest at around 10450-10460 levels.

It was also mentioned that I will be a buyer from that level.

Nifty did exactly the same. Nifty moved up from there.

And made a high of 10628 and closed at 10605.

Now What :-

Frankly Nifty is at make or break level.

Although Nifty is showing strength but the indicators has not yet fully supported the strength. Thus I will be susceptible about that strength.

Nifty is in a larger range of 10450 to 10815 Below 10450 it will be bearish and above 10815 it will be strong.

In the coming week I expect Nifty to make full body candle Green or Red.

And if I have to take a view on Nifty for one side then I would like to go for Red candle.

In other words, from now onwards, till Nifty does not close above 10815 any strength it may show should be looked with suspicion and thus  I would not go long from here. As 10815 closing basis is the level which will nullify the overall weakness.

And to manage the risk above 10666 I will step aside and look form sidelines and will not try to short Nifty.

But frankly below 10666,  I will not leave any opportunity to sell Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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