Nifty trend prediction today 30-1-19
Nifty trend today in the first half was seen lower and then in the second half we did see recovery from the low point of the day eventually Nifty closed marginally in the green for the day. As per my Nifty trend analysis / Nifty prediction longer term trend remains down in Nifty however near term trend still remains sideways and there could be some sharp pullback that could be seen in the coming days. Please understand whatever pullback comes will end up making a lower top (lower top when compared to 11760) however keep in mind that although Nifty longer term trend is down and eventually we will break 10000 levels there could be some pullbacks that could be seen till where those pullbacks (pullback as in as per our wave counts we are in a pullback from 10000 levels since 26th Oct we remain in a pullback when will eventually end with a lower top vs 11760 top) so please keep in mind that although our Nifty prediction remains that Nifty long term trend is down yet in the near term there could be some sharp pullbacks.
If you are only trading on the basis of this post please use your own risk management and then only trade, if we find low risk opportunities then we may trade counter trend and end up buying for intraday or take some other stock call where we see deep value or we see sharp pullback in that particular counter. Please always manage your risk.
Earnings have been disappointing and we do not see any major earnings recovery or growth in the coming few months the on ground economy is slowing extremely rapidly and that will not allow equities as an asset class to do well because eventually all said and done stocks and equities have always done well only with tail wind of earnings growth and that has not been there, just sheer liquidity will not help the market alone to keep moving higher. The lack of earnings growth will keep pushing valuations higher and if Nifty moves higher then the combination will only make the market look more and more expensive and as regular readers of this website are well aware no one has ever made money buying expensive so till earnings don’t pick up upsides from a portfolio perspective will be restricted from a trading stand point getting in around support zone and getting out at resistance will be a good trade for the time being.
Good Trading To You!