Nifty Prediction 8th April 20

Nifty Prediction see higher prices coming overall. Pullbacks will come and go but overall prices will move higher till our current time cycle is active.

Nifty moved perfectly in line with our prediction. We had clearly mentioned on Friday to buy aggressively as we were expecting higher levels of 9000+. Now overall we do not see any major downside. Yes volatility will keep coming from time to time but use the pullbacks to buy and hold recommended delivery stocks or sell appropriate puts as and when Nifty gives pullbacks. Avoid chasing prices.

Once again we are predicting that using combination of systems we see prices heading higher over the next few months so although this will not be a fundamentally driven rally based on economic recovery (that will follow later in next year) but for now we will see a purely liquidity driven rally. As news flow of coronavirus coming under control keeps coming in we will see markets moving higher because a lot of money is on the sidelines as of now waiting for it to enter the markets. Please do refer to our previous post on details of my projection for covid 19 also chat transcripts have been given in our previous post.

Part of what we did

[8:56 AM, 4/7/2020] Glenn: Good morning
[8:56 AM, 4/7/2020] Glenn: Nifty 30 April Hold 7600 Put short 1 part and Nifty 30 April 8000 Put short 1 part
[8:57 AM, 4/7/2020] Glenn: Reliance hold remaining 50 percent long qty as told for buy done at 1020-1040
[8:57 AM, 4/7/2020] Glenn: Bandhan Bank hold long as told
[8:57 AM, 4/7/2020] Glenn: Sail hold long qty as told
[8:57 AM, 4/7/2020] Glenn: Will keep Updating as and when anything needs to be done
[9:12 AM, 4/7/2020] Glenn: Reiterate we see 9000 plus coming in near term and overall higher prices. Minor pullbacks will keep coming from time to time but overall prices will keep moving higher
[9:16 AM, 4/7/2020] Glenn: Sail book 50 percent profit at cmp and trail remaining to cost /22
[9:17 AM, 4/7/2020] Glenn: Nifty 30 April book profit in 7600 Put short for sell done at 320 cmp 
[9:17 AM, 4/7/2020] Glenn: Nifty 30 April 8000 Put short hold 1 Part short as told for sell done at 421
[11:01 AM, 4/7/2020] Glenn: Sail book profit in remaining 50 percent long qty at 24.15 for buy at 22 
[11:01 AM, 4/7/2020] Glenn: Hold remaining positions as told
[11:01 AM, 4/7/2020] Glenn: Will. Keep updating as and when anything needs to be done
[11:17 AM, 4/7/2020] Glenn: Bandhan hold we will add at lower levels
[11:17 AM, 4/7/2020] Glenn: Reliance hold remaining 50 percent long qty as told for buy done at 1020-1040
[11:18 AM, 4/7/2020] Glenn: Nifty 30 April 8000 Put short 1 part hold as told for sell done at 421
[11:18 AM, 4/7/2020] Glenn: Bank Nifty 30 April 18500 put short hold 1 Part short as told for sell done at 1650
[1:15 PM, 4/7/2020] Glenn: As and when anything needs to be done will update
[1:40 PM, 4/7/2020] Glenn: Nifty heading for 9000 area as predicted. Hold positions as told
[1:40 PM, 4/7/2020] Glenn: Will keep Updating as and when anything needs to be done
[1:57 PM, 4/7/2020] Glenn: Bandhan add 2nd part at 162 spot levels mentioned

As usual if you are only trading on the basis of this post please use your own risk management and trade. Please do not over trade and always keep your risk in check.