Nifty Blog by CA. Sachin Aggarwal

Dated :- 02.06. 2019                                 NIFTY SPOT : 11918.25

                                                                                                         

Hi readers,

Nifty moved up as expected and mentioned in my previous blog dated May 26, 2019.

As was mentioned that above 11881 Nifty will be more bullish, Same happened and It made a life time high of 12039 and then closed at 11918.25. Hope readers would have enjoyed the move and booked some part profits there.

Now What :-

After the flash crash which lasted for merely 1 minutes on Friday, it might be due to any reason. But technically they are very important signals.

It clearly indicates that we are not going to stay here and move on one side is imminent from here that too in not much time.

For our long positions we need to be cautious and not allow the profits to be eaten up from here.

Thus keep a tighter trailing stop loss of 11838 closing basis. I wanted to give the trailing stop loss of 11881 but that looked to be much tighter  trailing stop loss this time.

As a trade management to stay in profit, book the half profits here and trail the balance position with the above mentioned trailing stop loss.

Why I am saying to keep tighter stop loss When the charts are clear and majority should be bullish and difficult to find shorting possibilities even at that time if flash crash comes and Nifty is halting, it is wiser to keep trailing stop losses tighter.

Another thing I would like to highlight  is that chart says that in June 2019 we will have full body candle either green or Red. Thus move in June 2019 will be big on either side.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

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