Nifty Prediction 7th May 20

Nifty Prediction Buy in panic at appropriate levels Buy high quality recommended stocks and hold for longer term.

Part of what we did

[9:06 AM, 5/5/2020] Glen Drago: Good morning
[9:06 AM, 5/5/2020] Glen Drago: As we predicted nifty will remain choppy overall by —th May we should see a higher bottom formation taking place and then nifty will move higher from lower levels
[9:06 AM, 5/5/2020] Glen Drago: Till —– of May we should expect choppy movements in the market
[9:07 AM, 5/5/2020] Glen Drago: Buying Into panic and booking longs on euphoria will be a good trade
[9:07 AM, 5/5/2020] Glen Drago: Don’t advocate short selling this market high risk traders may short sell only from. Intraday perspective
[9:08 AM, 5/5/2020] Glen Drago: Hold portfolio longs in recommended stocks as told in panic if you want to add please do so
[9:09 AM, 5/5/2020] Glen Drago: Either higher bottom will be formed around— or — depending on degree of the fall but higher bottom formation of — looks more likely.
[9:11 AM, 5/5/2020] Glen Drago: Overall most traders are short in the market and overall sentiment readings are very bearish so I am not expecting sustained down move. This is just a pullback of the —move post which another up move will take place where Nifty will touch — plus exact targets we will put out later
[9:55 AM, 5/5/2020] Glen Drago: Nifty 28 May 9500 Call sell 1 part at cmp
[9:55 AM, 5/5/2020] Glen Drago: We may hedge the position at lower levels with a put short
[10:11 AM, 5/5/2020] Glen Drago: Let nifty come lower we will be buying on lower side
[10:12 AM, 5/5/2020] Glen Drago: Or hedge with selling put as we don’t see Nifty sustaining lower and higher bottom of around 14th May is likely post which we should move above —-
[10:16 AM, 5/5/2020] Glen Drago: Nifty 28 May sell 9200 Put 1 Part at cmp
[10:16 AM, 5/5/2020] Glen Drago: Hold Pair trade of 9500 Call short and 9200 Put short for 28 May
[2:45 PM, 5/5/2020] Glen Drago: Concor Buy 1 Part at cmp and 2nd part at 330 (if comes) SL 326 TGT 351 spot levels mentioned
[2:50 PM, 5/5/2020] Glen Drago: Nifty we could see last round of dip by tomorrow and then overall —-
[2:54 PM, 5/5/2020] Glen Drago: BTST Naukri Buy at 2550-2538 SL 2532 TGT 2575
[2:55 PM, 5/5/2020] Glen Drago: Nifty 28 May 9500 Call short Book profit at 9210 (prefeed) spot level
[2:56 PM, 5/5/2020] Glen Drago: Nifty 28 May 9200 Put short hold 1 Part as told
[2:57 PM, 5/5/2020] Glen Drago: Nifty 28 May 9500 Call short Book profit at cmp
[2:58 PM, 5/5/2020] Glen Drago: Confirmation Nifty 28 May 9500 Call short booked profit
[2:58 PM, 5/5/2020] Glen Drago: Nifty 28 May 9200 Put short continue holding 1 Part as told
[3:15 PM, 5/5/2020] Glen Drago: BTST HDFC Ltd
[3:21 PM, 5/5/2020] Glen Drago: Hdfc ltd book 50 percent at 1699 (prefeed) spot rate and hold remaining qty
[3:22 PM, 5/5/2020] Glen Drago: Hdfc Ltd book 50 percent at 1699 (prefeed) spot rate.
[3:22 PM, 5/5/2020] Glen Drago: Nifty 28 May 9200 Put short continue holding 1 Part as told
[3:22 PM, 5/5/2020] Glen Drago: Concor hold long as told
[3:29 PM, 5/5/2020] Glen Drago: Confirmation 50 percent book in hdfc
[3:29 PM, 5/5/2020] Glen Drago: Confirmation 50 percent booked in hdfc Ltd
[5:07 PM, 5/5/2020] Glen Drago: https://www.ndtv.com/world-news/coronavirus-israel-says-made-covid-19-antibody-that-neutralises-virus-in-patients-body-2223695
[9:16 AM, 5/6/2020] Glen Drago: Good morning
[9:16 AM, 5/6/2020] Glen Drago: Hold positions as told
[9:16 AM, 5/6/2020] Glen Drago: Will update as and when anything needs to be done
[9:20 AM, 5/6/2020] Glen Drago: Sail buy between 27.60-26.30 SL 26.10 TGT 30
[9:41 AM, 5/6/2020] Glen Drago: Concor book profit in 2nd part bought at 330 hold 1st part bought at 340 and trail 1st part to 325 spot rate
[9:42 AM, 5/6/2020] Glen Drago: BTST trade update Hdfc Ltd hold remaining 50 percent long qty as told trail to 1680 spot level and hold
[9:42 AM, 5/6/2020] Glen Drago: Nifty 28 May 9200 Put short continue holding 1 Part as told
[9:42 AM, 5/6/2020] Glen Drago: Will update as and when anything needs to be done
[9:42 AM, 5/6/2020] Glen Drago: Sail hold longs as told
[9:45 AM, 5/6/2020] Glen Drago: Don’t see Nifty sustaining lower now. We see higher levels of around — plus in the next few days but overall will remain very choppy till — with a bottom formation expected around —-
[9:46 AM, 5/6/2020] Glen Drago: Almost all planets will be going retrograde in the next few days and if the market is declining into that date then we see —- plus coming
[9:48 AM, 5/6/2020] Glen Drago: Avoid banking stocks for now
[9:48 AM, 5/6/2020] Glen Drago: From a trading perspective
[9:48 AM, 5/6/2020] Glen Drago: Or bank nifty for that matter
[9:57 AM, 5/6/2020] Glen Drago: Sail book 50 percent at cmp and trail remaining to 27.6 spot levels mentioned
[9:57 AM, 5/6/2020] Glen Drago: Confirmation sail booked 50 percent at 28.30 for buy at 27.6 hold remaining now with 27.6 trailing SL
[9:58 AM, 5/6/2020] Glen Drago: Concor hold 1 Part long as told
[9:58 AM, 5/6/2020] Glen Drago: Hdfc Ltd hold remaining 50 percent long qty as told
[9:58 AM, 5/6/2020] Glen Drago: Nifty 28 May 9200 Put short continue holding 1 Part as told
[9:59 AM, 5/6/2020] Glen Drago: Will update as and when anything needs to be done
[10:00 AM, 5/6/2020] Glen Drago: Hdfc Ltd Btst trade book at cmp
[10:02 AM, 5/6/2020] Glen Drago: Delivery longs hold as told if you want to add in recommended stocks you can add
[12:15 PM, 5/6/2020] Glen Drago: Concor target achieved book profits in part 1
[12:16 PM, 5/6/2020] Glen Drago: Hold remaining 50 percent long qty in sail as told
[12:16 PM, 5/6/2020] Glen Drago: Nifty 28 May 9200 Put short continue holding 1 Part as told
[12:17 PM, 5/6/2020] Glen Drago: Will update as and when anything needs to be done
[3:17 PM, 5/6/2020] Glen Drago: Choppy moves cab be seen for next few days keep that in mind
[3:21 PM, 5/6/2020] Glen Drago: Close 9200 Put at cmp
[3:22 PM, 5/6/2020] Glen Drago: Close remaining 50 percent long in sail
[3:22 PM, 5/6/2020] Glen Drago: No open positions for now
[3:22 PM, 5/6/2020] Glen Drago: As and when anything needs to be done will update

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!