Nifty Trend / Nifty Prediction 14th Aug 19
Nifty trend today was down and perfectly in line with our Nifty prediction. Yesterday we had guided that the area of 11200 has a lot of resistance and hence we could see some sharp sell off and Nifty did just that. Now, Nifty is at a critical juncture and although the overall trend remains down we do not see any sense in short selling now around current levels because we see a that Nifty has decent support areas around current levels sure it is possible for Nifty to move a but more lower I am not suggesting for one minute that the final bottom for this leg of the fall is done but surely short selling now does not make sense as we could see a new pullback trend emerging soon for higher targets. So keep a watch on Nifty as downsides are limited while there is a good possibility of a sharp pullback rally which will cover the retracement of the entire fall from 12100 till now so in that case we could see some proper sharp bounce back. Keep in mind that I am not suggesting that this will be a fresh trend it will merely be a pullback trend and the pullback trend must be traded only as a pullback trend so do not think that this is a blanket call for investing blindly into anything. I know many of you have been calling me and saying that look at stock x and y it has fallen 80% or 50% from the highs sure I agree with most of you on that but that does not mean that currently it is a good time to invest in stocks. For now play the bounce back and avoid short selling fresh. For those who feel they have to remain short please do keep trailing stop loss in place for your shorts.
Nifty trend is down. Nifty prediction we see a bounce back in the coming days which could end trapping the short sellers in the near term.
Good trading to you!