Nifty Blog by CA. Sachin Aggarwal

Dated :- 30.09. 2018                                 NIFTY SPOT : 10930.45

                                                                                                         

Hi readers,

Nifty moved as was mentioned and expected.

Nifty held 10875 level and it rebounded from their and was sold again and again held 10875.

Now What :-

Although now also the news will hold the key but everything has to be played with technical charts.

Charts are in oversold zone and may pose a rebound. But remember one thing that when the bad news come in oversold zones then Nifty has the tendency to fall very sharply non-stop.

Thus the trading strategy is that above 11043 Nifty will be available for rebound. And if remains below 10870 then it is in complete sell zone. Thus if and when ever the rebound comes in Nifty above 11043 play with that for small profits.

To inform the readers Nifty has made two bearish patterns i.e. Shooting Star Pattern on quarterly charts and Bearish Engulfing pattern on Monthly charts.

Together with the fact that  200 DMA is coming at around 10770-10800 zones.

Frankly the levels of 11043 and 10880 will hold the key Above 11043 try to buy for small profits and below 10880 be on short side for small profits.

Sharp rebound can come any time as per technical's.

Even in the absence of any further bad news Nifty can give rebound.

But continued bad news makes mockery of moves.

And remember do not bottom fish here because the key of playing oversold markets are to let the rebound start and whenever it starts then just enter in it at proper time, otherwise the oversold markets just keep on falling nonstop because weak hand buy there and are killed.

Strategy for the week is to remember the levels and play accordingly for small profits and small stop loss again and again.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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