STOCK MARKET VIEW BY SACHIN AGGARWAL : April 2020

Wednesday 29 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 29.04. 2020 NIFTY SPOT : 9475

Hi Readers

Nifty moved further up and made a high of 9490 now at 9475.

Book full profits in Nifty long position and step aside.

As I always say "Profit voh hai joh ghar aa gaya".

This blog is updated at 12.08 p.m. during the market

Trade accordingly.

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

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Tuesday 28 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 28.04. 2020 NIFTY SPOT : 9335

Hi Readers.

Nifty moved up and now at 9335.

Book at least 2/3 part profits and keep the stop loss of the rest at 9210.

Enjoy the profits.

Profits should always be protected

Blog is updated at 9.31 am. during market time

Trade accordingly.

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

Sunday 26 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 26.04. 2020 NIFTY SPOT : 9154.40

Hi Readers.

In my previous blog it was mentioned that Nifty will make either full body green or red candle.

And play with the trend.

Nifty hourly charts are stretched thus run through up move not expected.

Same happened Nifty made a red body candle and it made a low of 8909 came down from the high of 9390 and closed at 9154.

Now what :-

The mere fact that Nifty is holding above 9091 is showing that buying is coming from lower levels to bring Nifty on elevated levels.

If Nifty wants to go up then this is the week for Nifty to go up.

And now in this week I will not be surprised if Nifty starts moving up from here.

For that Nifty has to remain above 9081 (i.e. slightly below 9091 which is very important for Nifty).

Till Nifty is above 9081 consider it to be strong.

Even any dummy close below and then again close above that should be considered for buying.

Thus for the coming week the view is clear.

Above 9081 look for buying and below look for selling.

Because now technically as per charts in the coming week it is expected that Nifty will give decisive move and the consolidation period will ultimately breakout/breakdown.

It can easily be on up side as this is virtually the final time when If at all Nifty wants to go up it has to do it now. But and downside move with close below 9081 will be equally fast and tradable and do not miss that even.

Trade accordingly.

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

Sunday 19 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.04. 2020 NIFTY SPOT : 9266.75

Hi readers,

In my previous it was mentioned that " the next thing expected from Nifty for moving up is that it should spend some time at around 9223 level plus minus some points for some time".

Same happened.

Nifty was in a range.

Now What :-

Now technically Nifty is placed at a crucial point.

It is at make or break level.

The coming week it is expected to be either full body green or full body red candle.

Had it not been at stretched levels on hourly charts I would have said that the body expected is green.

But the stretched hourly charts does not allow me to say that right away. Which also indicates that if Nifty gives any dip and after than starts moving up it can be a good move for green body candle. Which can be easily traded.

Thus the strategy for the week is to go with the trend and play the ride both sides.

Trade accordingly.

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

Sunday 12 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.04. 2020 NIFTY SPOT : 9111.90

Hi readers,

Nifty moved up with a bang as was mentioned in my blog dated April 06, 2020 when Nifty as at 8106.

Readers would have enjoyed the profits.

It was mentioned that the up move would be a good one.

Same happened it was fast and furious up move of more than 1000 points in one week as was expected.

As I mentioned earlier in my blogs India VIX had made 6 red candles which also triggered the up move.

Nifty has given a breakout of inverted head & Shoulder pattern which is a bulling pattern. But the close of Nifty should have been above the technical level of 9223.

Readers would have booked full profits at 8940 as per my during the market blog dated April 08, 2020.

Now What :-

Nifty's should have closed above 9223 in the week.

If it would have closed above 9223 I would have said that go long again.

Now, Since Nifty has not closed above 9223 in this week.

Then the next thing expected from Nifty for moving up is that it should spend some time at around 9223 level plus minus some points for some time.

If Nifty does not do that in that case I will be open to the thought that it may again feel itself heavy and start making red candles again.

Thus how to play this.

I will be playing with tight stop loss.

And look for buying, only if, Nifty stays above 9223 at least for one hour that too with small and tight stop loss.

And below 8944 I will not look to buy Nifty rather look for selling possibilities.

Both side trades should be with tight stop loss and should be taken again and again for small profits.

Trade accordingly.

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

Wednesday 8 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 08.04. 2020 NIFTY SPOT : 8940

Hi readers,

Nifty moved up as was mentioned with a bang.

Now it is 8940 book Full profits here and step aside.

More than 500 points profits in no time

The blog is updated at 10.01 during the market on April 08, 2020

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

Monday 6 April 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 06.04. 2020 NIFTY SPOT : 8106.60

Hi readers,

Nifty came down as was mentioned in my previous blog Dated 29/03/2020.

Since February we have been mentioning to just sell sell and sell Nifty.

And readers would have enjoyed the fall.

Nifty made a low of 8055 again in the previous week and closed at 8106.

Now What :-

Now for the first time Since February 2020, Nifty has given first indication that it wants to rebound.

The level of 8094 on closing basis should be kept as stop loss for that.

If Nifty rebound from here as we expect, then it can be a good one also.

Why I am saying that Nifty can rebound from here.

Weekly RSI at 16 even below than the level of 2008 fall.

Nifty has taken support on Friday dot at the Fibonacci level of 61.8% retracement at 8094 and closed at 8106. Which also makes 1-2-3 pattern on daily and hourly charts.

Also the volumes have also dropped in the fall from 8600 to 8100 which also supports that pattern which we are looking can be played on the up side.

I would be a buyer in the coming week and look for rebound with the initial stop loss of 8094.

Trade accordingly.

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

Disclaimer:

The views on Nifty and Stocks and calls made herein are personal views of the author of the blog and are for information, knowledge and educational purpose only and not for commercial purpose in any way. Views expressed in the blog are for information and for education only and it may or may not hold good. These views or calls made on the blog are not recommendations to anybody to buy or sell any index or securities. The above views and calls are based on technical analysis. While due care has been taken while expressing these views and calls, the author of the blog, is not responsible for any liability of any sort arising from the use of this blog. Readers of this column and those who buy or sell index or securities based on information in this blog are solely responsible themselves for their actions. The author may have positions in any of the index or stocks mentioned in this column. Readers of the blog are advised that before trading or doing investment in markets please take advise from your financial expert/consultant. Usage of this blog information confirms that user has read this disclaimer.