Nifty Blog by CA. Sachin Aggarwal

 

Dated :- 04.09. 2022                        NIFTY SPOT   17539.45

 

Hi Readers,

Nifty made a low of 17166 and then rebounded from there due to short covering and made a high of 17777 and then closed at 17539. .

 

Now What:-

Now Nifty is standing at important juncture. Charts are showing that it is Bank Nifty in coming week which holds the key. Bank Nifty chart is at important point, a small up move in bank Nifty can take Nifty along with it.

Thus Nifty above 17608 and Bank Nifty above 39670 is a good area for rebound and short covering may creep in. But with a view that this situation if happens by Tuesday will be taken by both hands by bulls.

In the coming week till if Nifty stays above 17433 and Bank Nifty does not shows the weakness then I will not look for selling possibilities.

But yes Nifty below 17433 and Bank Nifty below 39007. I will look for selling possibilities.

 

Trade Accordingly.