Nifty Blog by CA. Sachin Aggarwal

 

Dated :- 29.11. 2022                        NIFTY SPOT   19889.70

 

Hi Readers,

It was mentioned that Nifty will take a breather same happened.

Also it was mentioned that Nifty will find resistance at 19888 and Nifty closed at 19889.

 

Now What:-

As mentioned in previous week, Nifty is at the resistance level of 19888 and now the resistance for the coming week shall be 19976. Sustain above it will help Nifty break 20000. But till the time it does not happen Nifty is supposed to face the resistance. Interesting thing happened yesterday was that Bank Nifty which is weak has also reached near the resistance level of 43990. Thus in coming days Bank Nifty will hold the key. If Nifty has to go up then Bank Nifty shall start trading above 44000 and that will be one of the indication that till it is above 44000 then Nifty might trigger a short covering. But un-till that, resistances can have their impact an force them come down.

Trade Accordingly.

Note: the blog is update on Wednesday 29/11/2023 at 8.08 a.m. before the market open.

 

 

Nifty Blog by CA. Sachin Aggarwal

 

Dated :- 20.11. 2022                        NIFTY SPOT   19731.80

 

Hi Readers,

Nifty went up last week to close at 19731.

Nifty is making Flag formation on monthly charts. Breakout yet to come.

 

Now What:-

Majority of the mid cap stocks are showing strength, But the weightage stocks are showing they are nearing resistance.

Thus, in the coming week volatility will be there.

For the coming week 19888 will act as resistance and 19575 will act as support.

Overall Nifty made double top formation an below 19247 Nifty is in sell zone. Thus till Nifty is between 19247 and 20222 it is traders game. Both buy and sell possibilities will be there. In coming week Nifty is expected to take breather.

Trade Accordingly.

Note this blog is updated on 20/11/2023 at 8.09 am before the market open.