STOCK MARKET VIEW BY SACHIN AGGARWAL : October 2018

Tuesday 30 October 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 30.10. 2018 NIFTY SPOT : 10215

Hi readers,

Nifty moved as expected.

As soon as it moved up above 10166 it moved up up and up.

Keep holding longs with the very small stop loss of 10158.

Obviously keep booking part profits and keep the rest position open.

Blog is updated during the market time at 2.57 pm.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday 28 October 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 28.10. 2018 NIFTY SPOT : 10030.00

Hi readers,

Nifty moved in volatile manner, we were expecting rebound from the oversold levels but Nifty had other ideas. It tried to move up but was forced to come down and closed at 10030 after making a low of 10004.

It is a rare chance that this time Nifty hit our stop loss of 10102.

Now What :-

Nifty is still in the oversold zone and we know that when Nifty start falling from the oversold levels it keeps falling non-stop.

Now Nifty should be expected to be in sell on every rise zone.

Any indication of buying in Nifty will not come till it is below 10210.

Nifty is a Sell thus levels of 9850 or lower can be expected.

Nifty is in sell zone but since the zone is oversold also thus we need to be cautious also thus if Nifty by chance stays above 10166 for one hour then we will not be interested to look for selling Nifty but rather will again start looking for rebound in Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Wednesday 24 October 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 24.10. 2018 NIFTY SPOT : 10146.8

Hi readers,

Nifty moved as was mentioned and expected in my previous blog.

Nifty went up and made a high of 10710 and then fell from there and when it went below 10358 it accelerated its downward momentum and kept coming down.

Nifty made a low of 10102 and closed at 10146.

Now What :-

Nifty has made perfect Doji pattern on exact retracement levels yesterday.

It means that till Nifty protect 10102 on the down side no one should look to short Nifty and all short positions should be covered. Rather for the remaining part of the week a small buying trade can be taken with a stop loss below 10102 closing basis.

On hourly charts also Nifty has made double bottom and bullish divergence on RSI the stop loss of both the patterns is also 10102.

Thus for remaining part of the week a rebound can be expected from oversold levels.

As we have expiry also in the current week the moves can be volatile.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Tuesday 23 October 2018

Dear Readers,

Sir is on the way back.
Will reach back in late Night.
Will update the blog tomorrow morning.

Monday 22 October 2018

Dear Readers,

Sir is out of town.
Thus could not update the blog yesterday.
The blog will be updated Tomorrow evening i.e. Tuesday Evening.

Thanks.

Sunday 14 October 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 14.10. 2018 NIFTY SPOT : 10472.50

Hi readers,

Nifty moved as was mentioned and expected in my previous blog.

Nifty movement was a surprise to everybody but readers would have seen that it remained in our range of 10160 to 10455 as mentioned.

Hitting the upper and lower end of the range again and again.

Reader would also have noticed that it was mentioned to play the Nifty on intraday basis as volatility would be high, same happened.

Also it was mentioned that Nifty has rarely made more than 6 red candles on weekly charts and it has already made 5 red candles continuously.

Thus here is the green candle in Nifty on weekly charts.

Now What :-

Now in the coming week it is expected that upward movement might continue but with the rider that I want Nifty to give a gap up and sustain that gap and in that case the level of 10348 will become very good support level.

If any gap up and sustenance of the same does not come then I will not be interested in playing the up move further.

Another thing is that Nifty has rebounded exactly from the retracement levels from oversold zone, thus continuation pattern is required in any form, the easiest form which is expected is gap up.

If gap up does not come in a day or two or gap does not sustain then below 10388 I will again be open to the idea of shorting Nifty again.

In any case above 10418 Nifty is in a comfort levels of holding the long positions.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday 7 October 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 07.10. 2018 NIFTY SPOT : 10316.45

Hi readers,

Nifty moved as was mentioned and expected in my previous blog.

Nifty is in oversold zone and respected our level our level was 11043 and Nifty made a high of 11035 and faced resistance at that level.

And on the down side our level was 10870 and below which breakdown was there and in the oversold markets when breakdown comes with the bad news Nifty has the tendency to fall nonstop sharply. Same happened. Readers would have also noted that the same thing was mentioned in my previous blog that oversold markets fall like anything because the retail investors look for bottom and they are killed like anything.

Why it happens is that in Futures and Options if one person is losing money then there is some person somewhere who is making money and they are smart people.

That is why Futures and Options are called zero sum game.

Now What :-

Do not bottom fish this market. Remember one thing that for the first time there is question marks for the Financial System of our country. Which was treated as "TITANIC" that nothing wrong can happen to that.

And when this kind of things happen only fear is there.

And GOD forbids if, Mutual Fund Redemption pressure comes from public, which is likely sooner or later then the fall can be very ugly.

For the coming week the view is that some stability is expected to come in the markets and up and down moves are expected.

Volatility and premium eating game is expected in the coming week.

The wider range for the coming week is expected to be 10160 to 10455.

In the coming week I will be less inclined to short sell immediately. As the risk reward is not favorable.

The strategy is to be nimble footed and the coming week will give money to intraday traders on both sides then positional.

Also the technical charts observation is that Nifty has rarely made more than 6 continues red candles on weekly charts. And it has already made 5 continues red candles.

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.