Nifty Blog by CA. Sachin Aggarwal

Dated :- 06.10. 2019                                 NIFTY SPOT : 11174

                                                                                                         

Hi readers,

Nifty fell down the way mentioned in my previous blog dated 30.09.2019.

It was mentioned that if any gap down comes go and short. And I will be more comfortable in shorting Nifty if it stays below 11594.

Also if there is any gap up we will nullify short trade.

But on gap down we will be shorting Nifty.

On 30th September i.e. on Monday Nifty gave gap down open and thus gave clear short trade.

And it kept falling down.

This is the power of technical analysis. We expected gap down opening for Nifty to give trade on the downside.

Clear indication helps taking the trade with confidence.

Nifty rewarded, it kept falling down and made a low of 11158 and closed at 11174.

Hope readers would be enjoying profits and Navratri Festival both.

Now What :-

Keep holding the short position with the trailing stop loss of 11282 closing basis.

And if in next 3 trading days Nifty does not close 11097 then I will look for booking full profits and step aside. Because around 11097 levels Nifty might find ways to rebound.

Trade accordingly.

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

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