Nifty Blog by CA. Sachin Aggarwal

Dated :- 05.08. 2018                                 NIFTY SPOT : 11360.80

                                                                                                         

Hi readers,

Nifty moved up as was mentioned in my previous blog, it made a high of 11390 and closed at 11360.

Nifty has almost hit the target of 11400 by making a high of 11390.

But do we say that the up move has ended from here???

The answer is No.

The up trend is still intact and till it does not give any indication I am not interested in taking sell trade.

Rather I will look for more upside and would like to continue with the long position for higher targets.

Keep holding long position.

And for that the trailing stop loss will continue to be 11010.

But since the trailing stop loss is too big and there is no better trailing stop loss for the setup as of now.

But we need to do trade management and at this time of the trade we need tight trailing stop loss.

Thus keep tight trailing stop loss of 11233 closing basis so that the large profits is brought home in all cases.

I will keep looking for dips for buying possibilities till 11233 is protected which may or may not come.

I had already mentioned that pattern is somewhere else. It is in Dollex 30 (Sensex in dollar terms). And there the pattern is still intact their with the strength in Nifty and BSE Sensex.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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