Nifty trend / Nifty prediction 31st July 19
Nifty moved perfectly in line with my Nifty prediction and has achieved lower side targets to start with after the budget we were expecting 11300 and then we revised our lower targets to 11100 which was done today.
So now what to expect? Although the current Nifty trend is down but there are some important support areas around 11000 Nifty spot levels and hence if traders are short then keep appropriate trailing stop losses as we could see some sharp bounce back from current levels now that bounce goes till what level that is a different question altogether but bottom line is in the near term there could be some sharp bounce backs that can come so keep that in mind.
From an investors perspective, we have been guiding that broad portfolios will take it on the chin and most portfolios have done just that. Once again I am saying that sure there will be some isolated pockets but broadly markets are not at a good price or time cycle point from an investment point of view because as I have been saying there is no demand and till the time demand does not pick up we do not see growth coming back how long will it take for this to settle well we could be in for at least 3 quarters more but for the time being lets wait on the sidelines from an investment perspective. Yes there are some deep value stocks which should be picked and they will do well regardless of what the Nifty and the broad markets do but they are a select few stocks, not the broad market.
So from where will returns come? Well, our 0% risk product has been doing very well. Last week we generated a 2.67% return and we estimate that we will continue making around 5% + per month with 0% risk so those of you who want a trial for this can get in touch with me directly.
Nifty trend is down. Nifty prediction near term bounce expected from 11000 area. Avoid fresh short now. Possible minor trend reversal on the cards.
Good trading to you!