Nifty Prediction today 26th Aug 19

Nifty Prediction today 26th Aug 19

Nifty moved perfectly in line with our prediction. Yesterday we had mentioned that though there could be some more downside and that we do not see downside sustaining. Nifty did exactly that went lower and then from the lows gave a rally of almost 250 points.  Overall based on my trend analysis we are of the view that downsides though possible from time to time we do not see below 10500 spot Nifty for the time being and a retracement rally of the entire fall from 12100-10600 is likely.  Yes there will be ups and downs and some pullbacks will keep coming from time to time I am not suggesting that it will be a vertical move in the retracement rally but overall we do not see either side one way moves so keep in mind that though longer-term trend remains down but for the time being we will be seeing some decent pullback in the markets and hence it will be prudent to be a buyer in panic than seller for the time being.  

Part of what we did

[22/08, 9:06 AM] Glen: Good morning

[22/08, 9:06 AM] Glen: No open positions in Nifty

[22/08, 9:07 AM] Glen: Nifty is sideways between 1120-10800 spot Nifty level. Until and unless we break either side with volumes no point in trading.

[22/08, 9:07 AM] Glen: Once bottom is done reliance could lead the rally. As and when we have to buy reliance will update

[22/08, 9:07 AM] Glen: Be on sidelines for now

[22/08, 9:09 AM] Glen: Range 11200-10800 spot

[22/08, 2:23 PM] Glen: Wait for panic bottom formation once panic bottom is done pullback rally should begin

[22/08, 2:25 PM] Glen: Will update when to buy

[22/08, 2:25 PM] Glen: Be on sidelines for now

[22/08, 2:25 PM] Glen: Let the panic play out

[22/08, 2:28 PM] Glen: Wait for buying msg

[22/08, 3:26 PM] Glen: Nifty Aug Fut Buy 1 Part

[22/08, 3:26 PM] Glen: Keep space for 3 more parts

[22/08, 3:27 PM] Glen: We could still see some. More Downside we don’t expect it to last but in panic we will buy 3.more parts if comes lower

[22/08, 3:28 PM] Glen: Short term delivery call Reliance ind buy at cmp and dips for target of 1370 cash levels mentioned

[23/08, 9:22 AM] Glen: Good morning

[23/08, 9:22 AM] Glen: Hold positions as told

[23/08, 9:32 AM] Glen: Wait for msg to add nifty

[23/08, 10:03 AM] Glen: Hold Nifty 1 Part long for buy at 10720 yesterday as and when we have to add 3 more parts will update

[23/08, 10:04 AM] Glen: Reiterate I don’t see Nifty sustaining lower for more than 2 days we see a pullback rally that will retrace the fall starting from 12100 onwards so a pullback towards 11300 is on the cards

[23/08, 10:05 AM] Glen: Reliance add on declines we see a target of 1350 plus

[23/08, 10:08 AM] Glen: Risk reward does not favor selling now we see pullback starting minor volatility can come today towards end of trade but next week onwards we see rally towards 11300

[23/08, 10:09 AM] Glen: Hold existing Nifty 1 Part bought yesterday

[23/08, 1:41 PM] Glen: Nifty book profit in 1 Part bought yesterday at 10720 Aug Fut.

[23/08, 1:41 PM] Glen: Confirmation no open positions in Nifty

[23/08, 1:41 PM] Glen: Reliance book 50 percent for buying done yesterday

Good trading to you!