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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