STOCK MARKET VIEW BY SACHIN AGGARWAL : June 2018

Sunday 24 June 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 24.06. 2018 NIFTY SPOT : 10821.85

Hi readers,

Nifty rose and closed at 10821.95 on Friday respecting all our levels.

But Frankly during the week the move was dull and thus we thought that it is better to book out at around cost. And on Friday Nifty rose and closed at 10821.

On Friday Nifty gave an opportunity for intraday buy and frankly, because of the dull move in Nifty we again thought that it is better to again book out small profits and step aside.

Now What :-

Although Nifty is respecting our all levels but we are not happy with the speed. It is quite dull and the big move should have come by last week.

Although Nifty is ready for 10900 plus levels in the coming week.

The view on Nifty is that not to look for shorting till it is above 10580. But since we are near to the close to the month end in June. The level of 10920 will be very important key in coming days.

And since we are not far away to that level and together with the fact that we are moving up slowly.

It is better to remain at sidelines and enjoy the summer season.

Because Although Nifty is showing buy but the risk reward from here is not looking attractive apparently for the coming week.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Tuesday 19 June 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.06. 2018 NIFTY SPOT : 10725.00

Hi readers,

Nifty not moving as expected exit all longs and step aside.

Updating during market time 2.39 p.m.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 17 June 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 17.06. 2018 NIFTY SPOT : 10817.70

Hi readers,

Nifty respected all our levels and moved as was mentioned in my previous blog.

It stayed above 10740 all the week and closed dot at our level at 10815 i.e. at 10817.

Now What :-

Since Nifty has respected our levels there is no point for us changing our view. View is still the same i.e. on the down side 10580 will act as important support level.

But the problem area is Trump decision of Trade War with China and the fear that other countries will also involve in that.

Charts are indicating that the time to take a move is not far away.

But remember to keep the quantity in control.

Thus going by charts irrespective of the trade war fear keep looking for buying possibilities on dips.

On the down side 10580 will be important support mark and till nifty is above 10647 it is in decent buy zone.

But remember that if the trade war fear started jittering the markets be swift and fast to book out from longs and in that case try to re-enter again only after the close above 10818 again.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 10 June 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 10.06. 2018 NIFTY SPOT : 10767.65

Hi readers,

Nifty was volatile in the previous week and it even gave close below 10606 and closed at 10593 and then moved up and made a high of 10818 and closed at 10767.

It was all over the place in the previous week and it even made bearish patterns in the name of Island reversal on Bank nifty chart.

And also made some bullish patterns of gap up on daily charts of Nifty and Bullish Engulfing pattern on Mid Cap Index charts.

Going by the analysis of both the type of patterns I think that the pattern of mid cap is the strong and that too in Nifty gap up.

Now What :-

In the coming week I will look for buying possibilities and now on the down side 10580 will act as major support level.

Specially for the coming week I will look at the level of 10740 above which I will look for buying possibilities again and again. If Nifty is strong it should take out 10815 on the upside in next 3 days.

However I would like to mention here only for coming week that by chance Nifty remains below 10740 for next 2 days then the view for bullishness will again be shifted to above 10815. it is only to allow the current bullishness a space to move we have assumed that even above 10740 also Nifty can be considered to be in a buy zone.

Simultaneously bank Nifty should stay above 26508 for our 10740 hypothesis to hold good.

Both the conditions of Nifty and Bank Nifty should hold simultaneously.

Because the Mid cap index has made a good pattern. Any further gap up on Mid cap index will further be good sign.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 3 June 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.06. 2018 NIFTY SPOT : 10696.20

Hi readers,

Nifty moved in the range and was all over the place and closed at 10696 after making a low of 10558.

We did not wanted to buy till Nifty does not close above 10815 and above 10666 we wanted to step aside.

The view is still the same for the coming week.

The only thing is that the strategy and level is a bit changed.

Now I will look for selling possibilities only below 10606 closing basis.

And for the coming week till Nifty is above 10606 I will just step aside.

The mid caps are bleeding and the Mid cap Index is weak.

But the Nifty is somehow forced to stay on higher levels and even the charts are forced to show strength in Nifty.

Nifty going up is not ruled out above 10815. Because when Market big fishes are adamant to hold Nifty on upside they can do anything.

Professional traders an look for buying possibilities till Nifty is above 10606.

This blog is updated again just to correct the level of Nifty at the top earlier it was mistyped at 10605 it is actually 10696.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.06. 2018 NIFTY SPOT : 10605.15

Hi readers,

Nifty moved in the range and was all over the place and closed at 10696 after making a low of 10558.

We did not wanted to buy till Nifty does not close above 10815 and above 10666 we wanted to step aside.

The view is still the same for the coming week.

The only thing is that the strategy and level is a bit changed.

Now I will look for selling possibilities only below 10606 closing basis.

And for the coming week till Nifty is above 10606 I will just step aside.

The mid caps are bleeding and the Mid cap Index is weak.

But the Nifty is somehow forced to stay on higher levels and even the charts are forced to show strength in Nifty.

Nifty going up is not ruled out above 10815. Because when Market big fishes are adamant to hold Nifty on upside they can do anything.

Professional traders an look for buying possibilities till Nifty is above 10606.

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.