Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.01. 2020                                 NIFTY SPOT : 12256.80

                                                                                                         

Hi readers,

Nifty went down and made a low of 11929 and then rebounded back with bang to make a high of 12311 and closed at 12256. Volatile as was expected.

Nifty went down below our level of 11988 but did not closed below that.

Blog readers would have closed their balance short positions which they would have been holding at the trailing stop loss of 12198.

The trade was exited with minor profit in spite of too much volatility and intraday gains. Had it closed below 11988 also, the down move would have been much severe.

Now What :-

Nifty taking support at 11929 and making gap up on the charts is very good for Nifty.

Now Nifty has again tested our resistance level 12298 to 12343.

I will be interested in the coming week to look for buy on dips possibilities in Nifty. Will look for buying possibilities on dips for the coming week. Till Nifty is above 12122.

Trade Accordingly.

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

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