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.

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