Nifty Blog by CA. Sachin Aggarwal

 

Dated :- 19.09. 2021                       

                                                                    NIFTY SPOT :17585.15                    

 

Hi Readers

Nifty gave a sharp rise and then came back to close at 17585.

Last week the small short trade did not work out.

But RSI stays above 81 on daily chart.

 

Now What:-

Now also view id same.

I will not be a buyer in Nifty but would like to stay on side lines and wait for the movement of Nifty.

Further I will again look for small selling possibility in Nifty till it stays below 17692 but above 17692 just step aside.

Keep an eye on Bank Nifty. Because it is not yet giving signs of weakness.

If it starts showing signs of fatigue then the Nifty may come down with speed.

RSI above 81 and fatigue on shorter time frame charts is expected to have its impact on Nifty.

Trade Accordingly.