Date 25/10/2020                                                                                    Nifty : 11930

 Hi Readers,

Happy Dussehra to all.

Nifty opened the week just above our level of 11828. It opened at 11832 and stayed above it throughout the week.

Thus the trade available from Tuesday on wards was only to buy and not to sell as was mentioned in my blog.

Now What :-

In the coming week I would like to sit aside because this week is election week.

We have Elections starting in Bihar and Also Elections in USA on Nov. 03,

Thus Market will be discounting them.

It will be volatile and dance on news.

Because it is the first elections after Lockdown

Thus the idea is to sit aside and enjoy the Festival Season.

 

Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 18.10. 2020                                 NIFTY SPOT : 11762.45

                                                                                                         

Hi Readers

Nifty moved as was expected and mentioned in my previous blog.

It was mentioned that Nifty is buy on dips and indeed dip came and Nifty and Bank Nifty rebounded from the same level and gave a decent profits.

 

But on next day (on expiry) again Nifty fell. And then again bounced to close at 11762.

 

Now What :-

 

Nifty has made a small double top pattern on hourly charts and is making bearish flag on hourly charts.

The charts are saying that Nifty is at make or break level.

The coming week is expected to be full body candle on weekly charts.

Either Green or Red.

Now how to play it.

Initially I would be a cautious seller in Nifty and see how it behaves.

Nifty staying below 11728 and Bank Nifty below 23250 will be comfort zone for keep holding the sell position but Nifty stay above 11813 and Bank Nifty above 23972 will be a level where we would not interested in selling or stay short.

Nifty has multiple supports between 10720 to 10753. But one has to take a view. Thus we have taken a cautious sell view initially to see how it behaves.

After Monday if Nifty closes and stays above 11828 I will be open to even buy.

 

Thus the idea is to start the week with a cautious sell position and see how the week pans out.

 

Trade accordingly.

 

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

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 11.10. 2020                                 NIFTY SPOT : 11914.20

                                                                                                         

Hi Readers

Nifty moved up nonstop in a style.

Showing strength.

 

Now What :-

Nifty has given a sharp rally and the texture of it, is, buy on dips.

Bank Nifty has for the first time supported the move and till bank Nifty is above 23250 Nifty is expected to be in safe zone. (Bank Nifty CMP 23846)

 

Nifty is buy on dips now.

And keep an eye on bank Nifty also. The key from here will be in the hands of Bank Nifty and if Bank Nifty stops helping Nifty then the view will be different.

 

Trade accordingly.

 

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

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :-

04.10. 2020                                 NIFTY SPOT : 11416

                                                                                                         

Hi Readers

It was mentioned to be on sidelines for the week gone by.

Nifty has made an insider bar in previous week.

 

Now What :-

Now for the coming week also I will just stay on sidelines and watch the movement. The coming week is expected to be volatile and sharp movements can be expected on either side.

We will wait for clear trade indication to come.

Trade accordingly.

 

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

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