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.

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