Nifty Prediction Trend is up buy in panic or sell puts on dips or buy high quality delivery stocks for higher targets
Nifty moved exactly as we have been expecting. yesterday we got out of our longs and we are waiting for appropriate levels to enter longs again. Many of you are asking me that why am I bullish in spite of such bad economic shutdown where every business is getting into problem? The point is prices have already adjusted for the worst in the near term and in the near term though economic news flow is going to remain bad and that will be so for a few quarters but the sheer value that is available on the screen is great and with all the cheap money that will be floating around in the system many HNI’s will look to buy high quality names and hold for longer term. See the point is you are getting some of the high quality names cheap because there is a problem if there was no problem you would not have got these stocks at such prices. Anyways the point is some of our recommended stocks are doing very well few of them are divis labs, abbot India, nestle these are already at life highs and remaining stocks will also move higher and give great returns from these levels. On any sort of a dip this is a great time to buy and hold portfolio longs because longer term though economic recovery will take time but prices on stocks especially those stocks where growth will remain more or less intact will do very well in the coming time so buy and hold high quality names from an investors perspective.
From a traders perspective we see some pullback is possible but in that pullback it will be prudent to either short sell puts at lower levels or Buy Nifty or better still buy into the Nifty leading companies and hold longs for higher targets.
Part of what we did
[9:04 AM, 4/15/2020] Glenn: Good morning
[9:04 AM, 4/15/2020] Glenn: Bandhan hold
[9:05 AM, 4/15/2020] Glenn: Overall see Nifty moving higher post consolidation between 9300 to 8400
[9:23 AM, 4/15/2020] Glenn: Bandhan exit
[9:23 AM, 4/15/2020] Glenn: Confirmation no open positions
[9:23 AM, 4/15/2020] Glenn: Wait for dip to buy. We see 10—– but on dips we will be buying
[2:35 PM, 4/15/2020] Glenn: Wait for some more Downside for buying
[9:18 AM, 4/16/2020] Glenn: Good morning
[9:18 AM, 4/16/2020] Glenn: Wait for some more Downside
[10:13 AM, 4/16/2020] Glenn: Consolidation will end in -= or – days now and once this consolidation ends we see Nifty moving higher towards 10—
[10:13 AM, 4/16/2020] Glenn: So we will be buying on lower side for next round target of 10—
[10:14 AM, 4/16/2020] Glenn: We see 8— to 8— area holding so around these levels we will be buying.
As usual if you are only trading on the basis of this post please use your own risk management and then only trade please do not over trade and always keep your risk in check.
Good trading to you!