Nifty Blog by CA. Sachin Aggarwal

Dated :- 13.10. 2019                                 NIFTY SPOT : 11305.05

                                                                                                         

Hi readers,

In the previous week Nifty fell down and made a low of 11112 but on third working day it rose up and closed at 113313.

Thus readers would have book full profits from their short positions and stepped aside.

Now What :-

Nifty has done interesting thing.

That is, it has taken support exactly at fibonacci retracement levels.

And it is also making flag pattern after double bottom formation.

It has also tested the double bottom breakout point which is at around 11140 levels closing basis.

Charts reading and analysis say that never go short when Nifty does the above combination.

That is double bottom, Fibonacci and Flag after Double bottom.

Charts of Nifty is placed in such a manner that now till the level of 11140 holds on closing basis. One should not go short.

These kinds of combinations are not broken by normal movements. Only a big unexpected news can do that. And no body can predict any big news. Thus always stay with charts.

Now Rather I will look for buying possibilities.

Trade Accordingly.

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

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