Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 16.08. 2020                                 NIFTY SPOT : 11181.25

                                                                                                         

Hi Readers

Nifty respected the both support and resistance levels in the previous week.

 

Nifty was both up and down during the week.

 

Now What :-

The coming week is easy to trade

As Nifty has taken support for once at 11111.

This number support is very significant.

 

For the coming week the view is simple. Close above 11254 Nifty is bullish with a stop loss of 11150 closing basis and close below 11098 Nifty is bearish with a stop loss of 11192 closing basis.

Play as per the breakout and breakdown, both on the up and down side as per the levels.

The movement as per the above mentioned levels is expected to be tradable.

 

Trade accordingly.

 

 

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 09.08. 2020                                 NIFTY SPOT : 11214.05

                                                                                                         

Hi Readers

Nifty has rebounded from the low of 10882 lower to our make or break level of 10950 mentioned in my previous blog.

 

Nifty made a low of 10882 and then rebounded to close at 11214.

 

Still below our level of 11220.

 

Now What :-

Now Nifty and Bank Nifty is again at crucial juncture.

They both are neither going up nor coming down decisively.

 

But looking at charts I expect that the coming week would be a full body red or green candle with tradable move on either side.

The key will be with Bank Nifty.

Bank Nifty close Below 21498 it is bearish and close above 21916 it is bullish.

 

And for Nifty also the same is expected.

This week will give move on one side.

Thus the movement will be decided during the week itself.

 

On the downside 11150 and on the upside 11296 will work as important support and resistance levels.

 

Trade accordingly.

 

 

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Hi Readers

NIfty is at 10950 Spot time 10.15 am.
Book 50% profit here as discussed in my previous blog yesterday and hold the balance short position one with the stop loss mentioned in my previous blog.

Enjoy the profits.
This blog is updated during market time at 10.15 am

Nifty Blog by CA. Sachin Aggarwal

Dated :- 02.08. 2020                                 NIFTY SPOT : 11073.45

                                                                                                         

Hi Readers

It was mentioned to book full profits and step aside as Nifty was overbought and run through upside was not expected, at that time Nifty was at 11200.

Same happened Nifty came down after making high of 11341 and made a low of 11026 and closed at 11073.

Hope readers would have enjoyed it.

Now What :-

Now as was mentioned to look for selling below 11118 where bullishness will be put under test.

Now the strategy for the week is to keep holding the short position with the stop loss of 11220 closing basis or even if Nifty stay above it for some time during the day.

But frankly this time the sell trade now is not that comfortable as on today.

Because Nifty is at make or break level around 10950 to 11020. Nifty has tested 11026 for once on Friday.

Thus the way one should play it is that book some profits on Monday itself. So that your stop loss will be either reduced or negligible or at cost.

Because if the fall has to come it will come in next two - three days. Else just book out without waiting for stop loss. Because the rebound will be equally sharp, it at all it comes, and expected to be good one. Rather try to buy in such scenario of rebound.

Thus the strategy is to hold sell trade (part one only) initially but keep booking some profits in between and hold only maximum 50% of position so that the effective stop loss should be reduced to few points of cost or be careful of position size.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 26.07. 2020                                 NIFTY SPOT : 11194.15

                                                                                                         

Hi Readers

It was mentioned to buy Nifty when Nifty was at 10900.

And it was also mentioned that till Nifty is above 10760 it will remain bullish.

Same happen Nifty went up and crossed 11200 and closed at 11194.

Now What :-

Now our target for Nifty was for 11600 around levels but Nifty has started showing overbought signs and RSI is above 70 with 6 back to back weekly green candles.

Thus it is prudent to book profits for once and step aside and let Nifty decide its course.

Because below 11118 Nifty will be bit weak for the week.

Thus better to book profits and do not be afraid to play for corrective move below 11118 during the day with very small stop loss.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 19.07. 2020                                 NIFTY SPOT : 10901.70

                                                                                                         

Hi Readers

It was mentioned to wait and watch Nifty to decide its direction itself.

Nifty was very volatile and one day up and one day down throughout the week. And by the end of the week it gave an upside movement and closed at 10901, we were expecting it to happen last week. However we wanted a close above 10923. But let us give benefit of doubt and expect Nifty to give closed above 10923 soon.

Now What :-

Now as soon as Nifty crosses 10923 the trade available is buy only and buy on every dip. Till Nifty is above 10760.

Bank Nifty has also shown promise on Friday. In  coming week Bank Nifty will hold the key for Nifty as major contributor. Bank Nifty has to sustain and support this strength of Nifty.

Till 10760 is protected Nifty will remain bullish. Below which the weakness will creep in.

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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Nifty Blog by CA. Sachin Aggarwal

Dated :- 12.07. 2020                                 NIFTY SPOT : 10768.05

                                                                                                         

Hi Readers

It was mentioned to book full profits from long position in Nifty when Nifty was at 10813 in my before market blog on Friday dated July 10, 2020.

And Nifty came down to make a low of 10718 and closed at 10768.

Actually Nifty should have given a close above 10933 in the previous week as per the analysis.

But as soon as we get the indication that Nifty is not going to close above 10933 we decided to exit the long positions and step aside.

Now What :-

The coming week will be to wait and watch Nifty to decide its direction itself.

Because, Nifty is slow in moving up, it might be fatigued also but the indicators has to turn negative for us to take any sell trade.

Thus the coming week will be to wait and watch and let Nifty decide its course of action and then take a direction view.

Till then enjoy the volatility

Trade accordingly.

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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