Nifty Blog by CA. Sachin Aggarwal

Dated :- 01.12. 2019                                 NIFTY SPOT : 12056.05

                                                                                                         

Hi readers,

Nifty moved above 12026 and gained strength to make a high of 12158.

But could not capitalize on the gains and gave up the gains after making handing man pattern on daily charts.

Now What :-

Since Nifty could not maintain strength which shows that the texture of Nifty is at risk.

Nifty is at very crucial level.

Which shows that 200 points plus move is expected in nifty on either side (may be on both sides) which is tradable also.

Close Below 12003 Nifty spot, Nifty is weak.

Also, any down move if any has to come it shall be run through.

Thus in that case 12114 on the up side will be a important resistance.

And since Nifty is at crucial point if it does not come down run through then in that case positive surprise is not ruled out.

Thus the strategy is to be bearish in first one - two days and wait for it to come down and if it does not come down then do not short, either step aside or look for buying in that case.

Trade Accordingly.

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

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