Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 27.12. 2020                                 NIFTY SPOT : 13749.25

                                                                                                         

Hi Readers

 

Nifty came down on Monday as the RSI was above 81 and the fall was relentless and in single day nifty made a low of 13131 and then bounced back giving a V shaped recovery to close at 13749.

 

Now What :-

Nifty has made a hanging man Pattern on weekly charts.

 

The rebound in Nifty is sharp and now the level of 13560 will act as support for Nifty.

I believe that the Bank Nifty must also support Nifty else the rebound, Nifty has shown might be in danger.

In the coming week till Nifty is above 13560 it has strength and the texture is buy on dips. Since the level is far from here thus one might wait for dip to look for opportunity. But below 13560 close Nifty will be weak and in that scenario one can look for selling possibilities.

 

 

Trade accordingly.

 

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

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 20.12. 2020                                 NIFTY SPOT : 13760

                                                                                                         

Hi Readers

 

Nifty kept moving up and closed at 13760.

 

Now What :-

Nifty has made consecutive 8 candles with small body on daily charts.

RSI above 81.

Although the momentum is strong but still I will not be aggressive buyer, as on technical charts, small time frame charts are stretched.

Nifty is on for 300-400 points move on either side.

The idea is to just step aside and wait for Nifty to relax its stretched charts.

Sometimes doing nothing is also a wise thing.

 

Trade accordingly.

 

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

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 13.12. 2020                                 NIFTY SPOT : 13513.80

                                                                                                         

Hi Readers

 

Nifty moved up in the week and made a high of 13573 and then closed at 13513.80 and stocks have given decent moves.

 

Now What :-

Now in the coming week I will not be an aggressive buyer.

below 10473, I will either look for small selling possibilities or just step aside.

 

Small time frame charts are stretched up.

And now I will look for correction.

Nifty has to spend some time.

In coming week time correction is becoming due.

Thus I will be open to correction but will not be aggressive buyer for the coming week.

 

Trade accordingly.

 

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

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 06.12. 2020                                 NIFTY SPOT : 13255.55

                                                                                                         

Hi Readers

 

Nifty moved up in the week and frankly we were expecting it to consolidate.

It was mentioned to stay on sidelines and wait for consolidation.

Nifty is moving up and showing strength and giving good tradable moves in stocks.

 

Now What :-

Well one has to respect the moves.

Till Nifty is above 13078 it is on for its trend.

If 13078 is broken then the consolidation which we were expecting in the previous week might happen in this week.

Thus keep riding the move till Nifty is above 13078 and below that just step aside.

 

Trade accordingly.

 

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

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