Nifty trend today / Nifty prediction today 11th Feb 19
Nifty trend today was bearish Nifty prediction is near term trend has once again become sideways because we have reentered the trading range of 11000-10600 and though we did see some intraday pullback during the day from minor support area of 10960 but once again Nifty slipped and closed the day lower almost exactly at the low point of the trading day. Based on my Nifty trend analysis / Nifty prediction we have been saying that there are no clear trades as of now in the Nifty Futures / Bank Nifty or most of the indices for that matter and it is better to look at individual stocks to trade rather than trying to trade the Nifty or the Bank Nifty.
To give you a better understanding of the overall picture consider this after so many weeks of consolidation between 11000-10600 Nifty gave a breakout over 11000 and now in just two trading days we are back in the trading range so we don’t prefer trading instruments which are sideways we would prefer to trade stocks or other instruments which are in a trend doesn’t matter it could be a uptrend counter or a downtrend counter that is irrelevant but we would not prefer to trade a sideways instrument as till date we have not seen many systems perform well in sideways markets and it is always better to stay out of sideways markets and as of now both Nifty and Bank Nifty are sideways hence we do not see great trading opportunities available there. Please keep in mind that we are not suggesting even for one minute that Nifty can come higher sure it can but for the time being the near term trend for Nifty is once again sideways and till the time we don’t have a powerful breakout from Nifty sideways zone we could preferably avoid Nifty and choose to trade in some trending counters which have much higher probability to make money much more easily. Having said that keep in mind that Nifty has support area in and around 10800 area and for those who are bearish on the Indian stock markets please keep in mind that till the time support area is not taken out with heavy volumes do not take any preemptive short trades because the current Nifty trend is sideways and only a heavy volume breakout will confirm range breakout so till the time there is no high volume range breakout we suggest to trade in individual stocks and advise to avoid indices for the time being.
As usual if you are only trading on the basis of this post please use your own risk management and then only trade please do not over trade and always keep your risk in check before trading. If we do see quality set ups in stocks then we may buy or sell depending on the individual counter and the same goes for Nifty and Bank Nifty also if we find good set ups either side which are in line with my overall predictions then we will take those trades and intraday may even be contrary to my overall longer term view so please trade as per your own analysis and keep your risk in check and then only trade.
Good Trading To you!