Nifty Prediction today 23rd Aug 19

Nifty Prediction today 23rd Aug 19

As predicted Nifty has come towards our target area of 10600-10700 spot Nifty level.  Now, we know that there are many traders who are stuck in trading long and investment long positions our advice to those who are stuck is that you must not panic now at current prices, in fact, there are some good large-cap stocks which can be bought from a short term trading perspective at or around current prices for a decent pullback. Yes although everyone in the market is bearish as of now in the near term we don’t see much downside from current levels sure we can see Nifty coming lower by some more points but we do not see Nifty sustaining lower and we now see a retracement rally starting soon. So where do we see the Nifty in the coming month of September?

We see Nifty starting a pullback rally (and while many traders may feel that the downside is done and that we have made a major bottom) we are of the view that this current bottom will only be a near term bottom and there will be a bounce-back or retracement rally which will give a good pullback so keep in mind to trade the pullback rally for what it is worth a pure pullback rally.

Good Trading to you!