STOCK MARKET VIEW BY SACHIN AGGARWAL : December 2018

Sunday, 30 December 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 30.12. 2018 NIFTY SPOT : 10859.90

Hi readers,

Nifty rebounded from 10534 (intraday low) exactly from the level mentioned in my previous blog. Our level was 10554 closing basis.

Nifty closed below 10728 and then moved down as was expected because below 10728 more lower levels were expected.

But it was also expected and mentioned that till Nifty is above 10554 closing basis it will keep on giving rebounds, Same happened.

Now What :-

Now the view is same, Nifty is in a buy zone.

More higher levels are expected in coming weeks.

Interesting thing in Nifty was that any gap down would have been bearish and look what Nifty has done it gave Gap up which is a further confirmation that it wants to go up.

Keep holding long positions and keep buying on dips for higher levels in weeks to come.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday, 23 December 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 23.12. 2018 NIFTY SPOT : 10754.00

Hi readers,

Nifty moved exactly as was mentioned in my previous blog.

It was mentioned that I would be a buyer in Nifty and look for higher targets.

Nifty made a high of 10985 and then on Friday it came down and closed at 10754. Danced on the Global tune and on selling due to Physical delivery of Derivatives contracts of December.

Now What :-

Nifty is volatile due to Global bad news.

Nifty is considered to be in safe zone till it is above 10554.

Thus till it is above 10554 I will not be a positional seller.

Technically on daily charts all the moving averages of Nifty are converging and are in the process of making flower pattern in Nifty. Which indicates that in coming few weeks Nifty will have one sided move of more than 500 points.

As of now till the time bearishness does not arise i.e. till Nifty is above 10554, Nifty will keep on rebounding again and again.

Since Nifty is stalling here thus the strategy is to be cautious and keep the level of 10728 continuously closing basis for 2 days in mind.

If Nifty closes below 10728 for 2 days then just step aside and wait and watch Nifty's movement this week.

This week is truncated week as we have holiday on Dec. 25 and also we have expiry on Dec 27. Stay light in Nifty.

Another thing I would like to mention here is that any gap down on daily charts and sustenance of that gap will be an indication of bearishness in Nifty.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 16 December 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 16.12. 2018 NIFTY SPOT : 10805.45

Hi readers,

Nifty is moving fast and reacting to the news. Nifty fell sharply and heavily due to Red Ocean Island reversal pattern and after that absorbed the State Elections results and RBI governor resign and then New RBI Governor appointment fueled the rally, as Banks started sensing the relief.

Now What :-

The previous week was event full.

And Nifty respected our level of 10821.

But it is on the verge of nullifying the Red Ocean Island reversal pattern, close above 10821 it will be nullified.

Also above 10877 Nifty will nullify the bearish Exhaustion gap pattern.

And Nifty is making bullish Flag pattern on hourly charts at present.

Together with the reading with indicators. Nifty is giving a sense that it is becoming ready for good tradable move in next 2 weeks, but this time either side.

And if I want to bring my neck out and expect which side it might be. This time I will want Nifty to move up because the setup of indicators is placed that it want to give a good move one side.

Defying all odds when Nifty is on the verge of nullifying the rare patterns then one should not question the underlying strength.

Always give weight age to the current pattern.

It is very difficult to think for buying and opting anything bullish at this point considering overall Domestic and Global Scenarios, but, present charts does not allow for shorting either. If one wants to take a call that which side one wants to trade then he has to believe the current charts and keep safety levels mentioned below in mind as precaution.

But remember that current pattern has to give breakout yet. above 10821 closing basis and followed by 10877 closing basis.

Thus be ready for one side move on either side.

And frankly I want it to be on upside.

But remember that be watchful of any gap down and Nifty has to close above 10821 for pattern to nullify because till then they are on.

Thus for the coming week the view is that do not try to short and look the market with bias to look for buying possibilities on dips.

And if Nifty does not move up then just step aside.

The technical way to play this kind of scenario is below 10728 just stay away and above 10788 keep looking for buying possibilities on patterns on intraday charts and keep booking part profits quickly and hold the balance position.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 9 December 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 09.12. 2018 NIFTY SPOT : 10693.70

Hi readers,

Nifty was all over the place in the previous week.

Nifty made a special pattern in the previous week.

Which is known as Red Ocean Island Reversal Pattern on daily charts.

This is a rare pattern and not a simple one.

Let me explain.

Reader would remember that in the previous week also Nifty made Island Reversal Pattern (that was bullish pattern).

But in this week nifty again made Island Reversal Pattern this time bearish pattern and this pattern has been made at such a level which nullified the previous week pattern. That is why this is called "Red Ocean Island reversal pattern".

means the bullish gap is reversed with bearish gap at same location. "Means gap ko gap ne kata."

Chart Attached.

Now What :-

The coming week will take its cue from Exit poll indications and the State poll results on Tuesday.

But Chartically :

This Red Ocean Island is bearish till Nifty is below 10821.

Thus in coming week stay with bearish bias whenever get a chance.

Nifty, has changed its texture, to sell on rise till it is blow 10821.

The weekly close below 10483 is further confirmation of change in texture to sell on rise.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 2 December 2018

Nifty Blog by CA. Sachin Aggarwal

Dated :- 02.12. 2018 NIFTY SPOT : 10876.75

Hi readers,

Nifty's move was run through and was good one.

We were expecting this run through move in last week.

But Nifty is one week late for us.

Now What :-

Nifty has given breakouts.

And Nifty has done that in style with gaps.

Now for the mean till Nifty is above 10608 the texture is buy on dips.

Thus wait for dips to buy Nifty and in coming days Nifty can see further upside after consolidation.

For information to readers Nifty has again made Island reversal pattern and this time on Daily charts. Above 10776.

And readers would be remembering that I mentioned in my previous blogs that Nifty had made Island reversal pattern on hourly charts above 10388.

Island reversal pattern is strong pattern and Nifty has to spend time below 10712 for the pattern to fail.

Please Note spend time below 10712.

Thus till that does not happen Nifty is buy on dips with major level at 10608.

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.