Nifty Blog by CA. Sachin Aggarwal

Dated :- 26.07. 2020                                 NIFTY SPOT : 11194.15

                                                                                                         

Hi Readers

It was mentioned to buy Nifty when Nifty was at 10900.

And it was also mentioned that till Nifty is above 10760 it will remain bullish.

Same happen Nifty went up and crossed 11200 and closed at 11194.

Now What :-

Now our target for Nifty was for 11600 around levels but Nifty has started showing overbought signs and RSI is above 70 with 6 back to back weekly green candles.

Thus it is prudent to book profits for once and step aside and let Nifty decide its course.

Because below 11118 Nifty will be bit weak for the week.

Thus better to book profits and do not be afraid to play for corrective move below 11118 during the day with very small stop loss.

Trade accordingly.

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

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.07. 2020                                 NIFTY SPOT : 10901.70

                                                                                                         

Hi Readers

It was mentioned to wait and watch Nifty to decide its direction itself.

Nifty was very volatile and one day up and one day down throughout the week. And by the end of the week it gave an upside movement and closed at 10901, we were expecting it to happen last week. However we wanted a close above 10923. But let us give benefit of doubt and expect Nifty to give closed above 10923 soon.

Now What :-

Now as soon as Nifty crosses 10923 the trade available is buy only and buy on every dip. Till Nifty is above 10760.

Bank Nifty has also shown promise on Friday. In  coming week Bank Nifty will hold the key for Nifty as major contributor. Bank Nifty has to sustain and support this strength of Nifty.

Till 10760 is protected Nifty will remain bullish. Below which the weakness will creep in.

Trade accordingly.

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

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.07. 2020                                 NIFTY SPOT : 10768.05

                                                                                                         

Hi Readers

It was mentioned to book full profits from long position in Nifty when Nifty was at 10813 in my before market blog on Friday dated July 10, 2020.

And Nifty came down to make a low of 10718 and closed at 10768.

Actually Nifty should have given a close above 10933 in the previous week as per the analysis.

But as soon as we get the indication that Nifty is not going to close above 10933 we decided to exit the long positions and step aside.

Now What :-

The coming week will be to wait and watch Nifty to decide its direction itself.

Because, Nifty is slow in moving up, it might be fatigued also but the indicators has to turn negative for us to take any sell trade.

Thus the coming week will be to wait and watch and let Nifty decide its course of action and then take a direction view.

Till then enjoy the volatility

Trade accordingly.

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

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 10.07. 2020                                 NIFTY SPOT : 10813

                                                                                                         

Hi Readers

Nifty moved up as was mentioned in my blog dated July 05, 2020.

It made a high of 10832 and closed at 10813.

The buy on every dip strategy again proved to be right again.

Now What :-

Now Nifty has come in overbought zone and it is always prudent to protect the profits and step aside.

Thus book full profits from long positions and step aside for once.

Trade accordingly.

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

Nifty Blog by CA. Sachin Aggarwal

Dated :- 05.07. 2020                                 NIFTY SPOT : 10607.30

                                                                                                         

Hi Readers

It was mentioned that Nifty will be bearish till it is below 10441 and on the downside 10155 is important level.

Once 10155 break Nifty will have more downside.

Nifty came down first, But Nifty respected the levels of 10155 and made a low of 10223 and then moved up, once it moved above 10441 it went up and made a high of 10631 and closed at 10607.

Now What :-

Since Nifty have moved above 10441 now 10366 will remain important support level and the texture is buy on dips.

Till 10366 holds Nifty will be in buy on dips.

Ideally any dip towards 10442  to 10525 around levels will remain a buying possibility in Nifty.

Nifty is making cup with handle pattern on hourly charts. And once it gives breakout above 10637 more higher levels are expected.

But close below 10366 bull trap might kick in and more downside will open up for Nifty.

Nifty chart showing Cup with Handle :-

Trade accordingly.

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

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