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.

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