Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 23.08. 2020                                 NIFTY SPOT : 11371.6

                                                                                                         

Hi Readers

Nifty moved as per my previous blog dated Aug 16, 2020.

Wherein it was mentioned that above 11254 Nifty is bullish with a stop loss of 11150 closing basis.

Nifty moved up and made a high of 11418 and closed at 11371.

 

Now What :-

The coming week is an expiry week also with expiry on Aug 27, 2020.

Expect the volatile moves in the coming week.

 

My observation is that in last 18 trading days Nifty has made only 2 green body candles. Which is a sign of caution.

 

Now how to trade this.

I will book part profits her and for balance position trail my stop loss to 11289 even on intraday basis, so that, the buy position is protected.

 

Also if Nifty does not move up in next two days I will book full profits and step aside. Because in that case it will be 20 days for Nifty. And as per my time cycles 20 days is an important factor.

 

Thus the combination of trio i.e. booking part profits, trailing the stop loss and allowing only 2 days for Nifty to move up else exit the position will help in trade management.

 

Trade accordingly.

 

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

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