STOCK MARKET VIEW BY SACHIN AGGARWAL : May 2020

Sunday 31 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 31.05. 2020 NIFTY SPOT : 9580.30

Hi Readers

Nifty moved up as was mentioned in my previous blog dated May 25, 2020 when Nifty was at 9039.

It made a high of 9598 and closed at 9580.

I wrote a during the market blog when Nifty was at 9470 to book profits and step aside. Because we were sitting on decent profits and did not wanted our profits to be eaten up by Nifty fluctuation.

As I always say "Profit Woh hai Jo Ghar Aa Gaya baki sab Kahania Hai"

Now What :-

Nifty is showing strength.

The trade available in town is Buy on dips and all the dips in Nifty are buying opportunities.

Keep buying on dips.

On Down side 9402 is first important support level.

Keep buying on dips again and again.

It is only below 9338 Nifty will become weak.

Trade accordingly.

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

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Friday 29 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 29.05. 2020 NIFTY SPOT : 9470

Hi Readers

Nifty is at 9470 right now.

Book full profits and step aside for once.

When ever decent profits comes in small time always bring it home

Blog is updated at 12.02 during markets

Trade accordingly.

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

Monday 25 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 25.05. 2020 NIFTY SPOT : 9039.25

Hi Readers

Nifty came down as was mentioned in my previous blog dated May 17, 2020 last week.

It came down with a bang and made a low of 8806 and closed at 9039.

Readers would have enjoyed the move.

In my during the market blog on May 22, 2020, I mentioned to book profits from all the short positions when Nifty was at 8999 and will be open to buy Nifty.

Now What :-

My view is still the same till Nifty is closing above 8961 indicators are supporting that it might give decent and tradable bounce.

Thus will not be looking to sell Nifty till it is above 8961.

Rather any shorting will be avoided till 8902, below 8902 closing basis more lower levels are on cards.

Thus 8902 to 8961 is no trading zone.

Trade accordingly.

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

Friday 22 May 2020

Hi Readers

I will not keep any short position now.
Rather If Nifty starts moving up I will be open to look for buying possibilities also now.

Hi Readers

Nifty is at 8999.
Book full profits and step aside.

Sunday 17 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 17.05. 2020 NIFTY SPOT : 9136.85

Hi Readers

Nifty came down in the last week.

And Nifty respected all our levels.

Our major level resistance level was 9388 but Nifty could not close above that. It closed at 9383 and then again came down and made a low of 9050 again and closed at 9136.

Hope readers would have enjoyed.

As I always say that technical analysis is first about not being wrong and then to be on the right side of trade.

Nifty also gave a gap up but everybody knows that it has to make green candle and close above the open to give any bullish signal on gap up day.

But Nifty rather made red candle on gap up day open high pattern which is again bearish formation.

Now What :-

Now for the coming week it is virtually last some days, when, if Nifty wants to come down it has to come with bang and force.

Thus going with this we will continue expect Nifty to come down in coming week also.

For that I think 9267 on the up side would be enough for the level to watch that can trigger short covering.

We want to keep the up side levels tight as even on the slightest sign of Nifty showing strength the shorts will run to cover their positions.

Because in such scenarios the confidence for shorts will keep reducing if Nifty stays at around current levels each passing day.

Thus, the best thing Nifty can do is to come down with bang.

Else, with every passing day it will start gathering fuel day by day to force short covering.

Trade accordingly.

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

Sunday 10 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 10.05. 2020 NIFTY SPOT : 9251.50

Hi Readers

Nifty was erratic in the week gone by.

But important thing to us is that it traded below 9458 throughout the week.

It was mentioned to stay out from market and watch Nifty move.

Now What :-

Nifty is at important level.

Where I expect Nifty to go down from here.

But If is closes above 9388 then I will again want to step out from market and watch from sidelines.

But if it closes above 9388 with the help of any gap up then I will be open to buy also.
Means any gap up will nullify the view even before 9388 and gap up should be looked to buy with small stop loss below gap level on closing basis.

But keep booking profits also.

Trade accordingly.

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

Sunday 3 May 2020

Nifty Blog by CA. Sachin Aggarwal

Dated :- 03.05. 2020 NIFTY SPOT : 9859.90

Hi Readers

Readers would have enjoyed the up move in the previous week.

As it was mentioned that it is the last week for the up move to happen from consolidation, otherwise it will be too late.

And Nifty moved up as expected.

Now What :-

Nifty is at 9859.

The tough resistance is at 9955 which is the closing rate of the first lower circuit on March 13, 2020.

On the lower side. The level of 9458 is important for support.

Thus in the coming week I would like to see how Nifty behaves.

Close above 9955 will give fresh momentum to Nifty even in the stretch smaller charts.

The coming week For Nifty is to be watched.

Nifty has already overdone the current week levels in week gone. Nifty has moved to the higher of 9859 which would have been expected in coming week if Nifty would have closed lower.

Thus erratic moves in Nifty is expected in coming week.

I would be enjoying staying out.

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.