Nifty Blog by CA. Sachin Aggarwal

Dated :- 11.11. 2019                                 NIFTY SPOT : 11908.15

                                                                                                         

Hi readers,

Nifty has stalled at around 12000 levels which was mentioned in my previous blog dated 03/11/2019.

It was clearly mentioned that short term charts are indicating that Nifty is not willing to go up run through and it is expected to stall here.

That was why we booked profits from long positions there.

Same happened. Nifty stalled and closed at 11908.

Now What :-

Now for the Coming week till Nifty is below 11994. Fresh buying should be avoided.

On lower side around 11700 levels Nifty may find support.

The level of 11870 closing basis is important for Nifty. If Nifty breaks it latest by tomorrow or day after then the level of 11700 - 11750 can be in sight.

Considering the overall range to be between 11690 to 11990 for the week.

It is recommended to stay light on Nifty and play with small positions.

Because, till now the overall trend is up or rather buy on dips.

Nifty can come further down in coming week, but it may remain the part of healthy correction.

Trade Accordingly.

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

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