Nifty Blog by CA. Sachin Aggarwal

Dated :- 18.11. 2018                                 NIFTY SPOT : 10687.25

                                                                                                         

Hi readers,

Nifty gave both the opportunities to buy and sell and readers would have been with the move.

Firstly it was went down below our level of 10530 and gave  a small correction made a low of 10460 as mentioned in my previous blog.

And then it went up and when it started moving above 10558 then it kept on moving up and readers should notice, that, the candle on hourly chart (when the up move started) the hourly candle low is 10536 and  the same candle broke 10558 also broke 10600 level. And after that Nifty never looked back and even after consolidation made a high of 10709 and closed at 10687.

Now What :-

Nifty is in a strength mode.

Frankly at this point if we look to find selling possibility in Nifty then we do not find any till Nifty is above 10530. Below 10530 this time the view will be different.

And Nifty has made a bullish Island reversal pattern on hourly charts. And we have been maintaining that for upside once 10760 which is 200 DMA is crossed by Nifty then people will start turning bullish.

Keep looking for buying possibilities.

Also let me mention one thing more here that in coming week if the up move starts ( which we expect)  then it will be with style and bang and in that case nifty is expected to make full body Green candle and the move up shall be non stop.

Thus if Nifty starts hanging or coming down or even does not move up in a day or two then just step aside.

For the coming week I will be either a buyer or just step aside.

I want to see nonstop up move in Nifty as a full body green candle should have been made in the previous week when nifty crosses 10558 again. It is one week late thus I want NIFTY to make that candle in the coming week.

Therefore, if Nifty closes below 10608 then I would step aside for the week.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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