Nifty Blog by CA. Sachin Aggarwal

 

Dated :- 20.02. 2022                        NIFTY SPOT   17276

 

Hi Readers,

Nifty moved in the range with up down effects.

 

Now What:-

Nifty is moving in a range where now 17598 will act as stiff resistance for Nifty.

And on downside till now Nifty is taking support at 17218 our important level for support. But for the coming week the support has shifted to 17171.

View for the week is that below 17171 I will look for selling possibilities and above 17348 I will just step aside.

See my problem area is Bank Nifty, till the time it is below 37930. It is weak.

Thus Nifty above 17348 and bank Nifty above 37930 expect short covering.

But till they are below these zones they will behave in a volatile manner together with the fact that Bank Nifty below 37358 and Nifty below 17171 look for selling possibilities again and again.

 

Trade Accordingly.