Nifty Blog by CA. Sachin Aggarwal

Dated :- 07.01. 2020                                 NIFTY SPOT : 12052

                                                                                                         

Hi readers,

Nifty faced resistance exactly at our level of 12292. Nifty made a high of 12289.90 and started falling. News from IRAN triggered the fall.

Also see the power of technicals. Today Nifty rebounded again to 12152 and again faced resistance at 12166 and started falling again.

As I always say that technical analysis helps us -- First not to be on wrong side and then to keep us in right side of the trade.

Readers would have enjoyed the fall.

Now What :-

Those who are having short positions should book part profits and keep holding the balance.

This is the time to remain short in Nifty with the stop loss of 12198 closing basis.

Although volatile moves are expected for that the stop loss is there. Volatility and news flow will be high.

And in next two days if Nifty does not close below 11988 then book full profits and step aside.

Trade Accordingly.

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

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