STOCK MARKET VIEW BY SACHIN AGGARWAL : January 2019

Sunday, 27 January 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 27.01. 2019 NIFTY SPOT : 10780.55

Hi readers,

Nifty made a high of 10987 and on Friday Nifty fell and made a low of 10756 and closed at 10780.

Now What :-

Since Nifty has closed below 10790 the pattern of strength is violated.

Now it is the time to just step aside.

I would have mentioned to go short as the pattern is violated, but considering that the coming week is the week in which Budget will be announced on Feb 01, 2019. movement in Nifty is expected to be very volatile.

Historically wayward movement is seen in budget week.

Thus the strategy is to just stay away, enjoy, listen and analyse the budget.

This budget(Vote on Account) is last budget before election and is more important.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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Sunday, 20 January 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 20.01. 2019 NIFTY SPOT : 10906.90

Hi readers,

Nifty moved as was expected. Although we expected more up move in the previous week. We expected Nifty to make a full body candle and expected it to be green. Though Nifty made green candle but the size of the candle is less than what we expected.

Nifty crossed our level of 10834 and moved up and then again came back to test that level also, it made a low of 10844 and again moved up and made a high of 10930 to close at 10906.90. Which showed its support strength.

Now What :-

Now Nifty is expected to continue its up move and that can be fast and even nonstop .

Because Nifty has to do the balance work of last week in coming week.

But since the speed is less, we need to be cautious also.

Thus book part profit on Monday morning and hold the balance quantity and keep the level of 10790 in mind to act as trailing stop loss.

Although we do not even expect Nifty to break and close below 10834 in coming week but we need some cushion thus kept the next stop loss i.e. at 10790 closing basis.

If Nifty breaks and closes below 10790 then just step aside.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 13 January 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 13.01. 2019 NIFTY SPOT : 10794.90

Hi readers,

HAPPY LOHRI & MAKAR SAKRANTI TO ALL.

Nifty moved in a small range for the week and the strategy to stay away proved to be good.

Nifty made a very small candle with a range of only 137 points for the week on weekly charts. It is called Narrow Range pattern.

Simultaneously it is making Symmetrical Triangle pattern on Daily and Hourly charts.

Further reading the patterns with indicators Nifty is expected to a move on either side & It is expected from Nifty to make a full body candle in coming week.

For upside keep the level of 10834 in mind above which one should look for only buying possibilities again and again.

And below 10748 look for selling possibilities again and again.

Personally I would like Nifty to move up, but will wait for Nifty to spend time above 10834 level.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Sunday, 6 January 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 06.01. 2019 NIFTY SPOT : 10727.35

Hi readers,

Nifty came down as was mentioned in my mid week previous blog dated Jan 02, 2019.

Nifty fell on next day as was mentioned and made a low of 10628 and then rebounded from there to close at 10727.

Now What :-

We were able to identify the downward movement.

Nifty should have moved further down but the positive news from the World around made Nifty rebound from the lower levels.

Thus it is better to book the short position and step aside.

As I had mentioned in my earlier blogs that Nifty is poised for a decent move in one side as all the averages are converging at same levels.

Any gap up from here, if it sustains, might prove to be a trigger for that move on the upside.

But as a prudent trader I would not like to change the views so quickly.

Before Jan 02 we were clearly bullish but on Jan 02 when nifty was at 10792 we identified the down move and changed the view to sell.

Which initially worked in our favour also with nifty falling more than 150 points.

And when after fall no follow up of down move is there, We want to book out short positions and step aside.

Thus till Nifty does not close above 10922 I will not like to buy whatever strength nifty might show.

Thus I will remain on side lines but If Nifty does not move up and starts going below 10698 then I will again look for Short possibilities.

Till then I will remain on sidelines for the week.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Wednesday, 2 January 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 02.01. 2019 NIFTY SPOT : 10792.50

Hi readers,

Nifty moved up yesterday and made a high of 10923 that was good show and continuation of previous up move.

Then effect of that should be that today it should have been further up but Nifty opened around 50 points down at 10868 and moved further down and closed at 10792.

Which shows that Nifty might be losing steam for bulls.

Thus Long positions should be booked and money should be brought home.

Since Nifty is making Ascending Triangle pattern on daily and hourly charts and in spite of that if Nifty does not try to even touch the higher end of the Ascending Triangle.

This shows that there might be a selling pressure Nifty is facing at these levels.

These are important signs thus for the rest of the week I would not like to be a buyer any more.

Rather, I would be now open to the idea of looking for selling possibilities with the stop loss of 10922 closing basis.

But please note that the selling possibilities I am mentioning is applicable only for rest of the current week further path will be as per the closing of the current week.

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.