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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