Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.05. 2019                                 NIFTY SPOT : 11278.90

                                                                                                         

Hi readers,

As expected Nifty fell down in previous week and fell hard and made a low of 11255 and closed at 10278.

We book early profits from short positions as I believe that profit who hai joh ghar aa gaya. Greed some times can be negative specially in these kind of volatile scenarios.

During the election results the movement remains volatile.

Thus it is always preferable to book full profits timely.

Now What :-

No as this is the last trading week before the exit polls of election.

It will be full of volatility and my view is that I will not be a further seller for the coming week.

Rather I would be happy to look for buying possibilities on sharp rebounds. Above 11318  we would look for buying possibilities with small stop losses  that too intraday, again and again in the coming week.

But would not like to further short sell.

The strategy for the week is not to look for shorting  as we are oversold and rebound can come any time.

Look for rebound above 11318 with small stop loss and for small targets again and again.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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