STOCK MARKET VIEW BY SACHIN AGGARWAL : September 2019

Monday 30 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 30.09. 2019 NIFTY SPOT : 11512.40

Hi readers,

First of all Happy Navratra's to all.

May GODESS DURGA shower all her blessing of all of us.

Yesterday I was not able to update the blog due to some personal engagements.

Regular update time will remain same i.e. every SUNDAY must.

Nifty has spent last week near to the level it opened.

In last 4 trading sessions Nifty has stayed rang bound and was all over the place.

It was expected also that Nifty would like to consolidate in the week.

Now What :-

Now in the coming week Nifty has made doji pattern on weekly charts and 4 candle range pattern on daily charts.

Which shows that any gap up or gap down on Nifty on daily charts is significant now for the coming week.

Any gap up or gap down from here will obviously give you trade. Play in the direction of the gap.

Also Friday's narrow range day signifies that 11594 on the up side and 11466 on the downside are important levels for the coming week.

Break above or below would likely to give more points in same side.

Looking at the charts if any gap up does not come and Nifty does not closes above 11594 then I will be comparatively more comfortable in selling Nifty for coming week.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Sunday 22 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 22.09. 2019 NIFTY SPOT : 11274.20

Hi readers,

Nifty celebrated DIWALI before DEWALI.

Thanks to Finance Minister Smt. Nirmala Sitaraman Ji.

And readers would also be enjoying it as they booked full profit from short positions and stepped out one day before the upmove.

This is where Technical analysis helps us, i.e. to be first, not on the wrong side of the trade and then on the right side of the trade.

Readers had been advised on Sept. 19, 2019 at 11.26 am. to booked full profits from short positions at 10749 and step aside as mentioned in my previous blog.

Now What:-

First of all thanks for our Finance Minister Smt. Nirmala Sitaraman Ji for giving booster dose to the economy and Companies which was much needed.

And such kind of up move can only be played after the news during the day on the spot.

Now as far as the charts are concerned. Nifty has closed at 11274. Showed strength, but, will have to wait, that, whether it is actual strength or it is short covering. After such massive move up it is not easy either to buy after around 600 points move up in Nifty in one day. And obviously such kind of moves should not be shorted either.

Thus the idea is to just wait and watch the next course of Nifty's movement and then take a view.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

Thursday 19 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.09. 2019 NIFTY SPOT : 11749

Hi readers,

Nifty giving decent profit in small time.

Book profits at 10749 CMP at 11.26 am for once.

And Step Aside

Blog is updated during market time at 11.26 am

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

Sunday 15 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 15.09. 2019 NIFTY SPOT : 11075.90

Hi readers,

Nifty posted rebound in the previous week as was expected and mentioned. Charts were saying that Nifty is showing that is wants rebound.

Nifty went up and made a high of 11084 and closed at 11075.90.

It did not crossed our level of 11088 in the week. Levels left out with few points are always naughty.

Now What :-

Rebound was expected and it has come.

If it would have given close above 11088 I would have given heavy weight age to this rebound or might has looked to change my overall view.

But Since it has not crossed this level thus whole analysis has to be done on the basis of coming week levels. Thus we have to change the level according to the requirement of coming week level. The level of 11088 was applicable till previous week but for coming week level is 11204.

Now for the coming week level of 11204 is very important on the up side.

Below which the Nifty is overall sell on rise. Note that this level of 11204 is on weekly closing basis specifically.

But since we are on the verge of breaking out of inverted head & shoulder pattern above 11090. Traders would be feeling bullish.

But I would be like to trade on bit reverse side approach in-spite of this bullish head & shoulder pattern.

Sell on rise approach might be more rewarding for the coming week.

Although it is not recommended for retail traders as probability for success ratio is not that much as we want, because selling against the breakout of inverted Head & Shoulder pattern is not easy for them, but as Professional I will like to trade with this approach.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

Monday 9 September 2019

Hi Readers

Pleas consider the date of my previous blog as Sept. 08, 2019.
It was wrongly typed as Sept. 10, 2019.

Sunday 8 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 10.09. 2019 NIFTY SPOT : 10946.20

Hi readers,

Nifty opened at 10960 and went down from their and made a low of 10746, and after that closed at 10946.

Readers would have enjoyed the sell trade. as the view was keep selling every rise.

Now What :-

Now also the overall view is same.

The level of 11088 on closing basis is very important for me for the coming week also.

But for the coming week the urge and confidence to sell is comparatively less.

Thus the coming week would be a week of playing only intraday trades according to the trend on both sides. Which obviously the professional traders can do.

For other the view shall be not to trade and just stay on sidelines.

Because Nifty has made hammer on weekly charts which is indicating that volatile move on both side are expected.

To summarize, the overall view is that till Nifty does not close above 11088 it will not gain strength and thus it should be sell on rise texture.

But for the first time in two months Nifty has shown possibility that it might rebound also. We have been shorting Nifty for last more than two months continuously.

Thus the time has come to be on sidelines as Nifty will become volatile and even rebound in coming weeks.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

Monday 2 September 2019

Nifty Blog by CA. Sachin Aggarwal

Dated :- 02.09. 2019 NIFTY SPOT : 11023

Hi readers,

Nifty went up in the opening part of week giving opportunity to sell and then fell down to allow the readers to book profits.

After that Nifty was volatile.

Now What :-

Nifty is still sell on rise.

But now the level of 11088 on closing basis is very important for me for the coming week.

if Nifty closes above 11088 level then I will not sell Nifty again for the week rather in that case the surprise up move is possible. Till then the texture is sell on rise.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of 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.