Nifty trend today / Nifty prediction today 15th Feb 19
Nifty trend today was bearish from a one day standpoint however just change the time frame from daily and have a look at the monthly time frame. Nifty trend has been sideways perfectly in line with my Nifty prediction now for almost the past 5 trading months and is well within the trading range of 11000-10600 broadly speaking. If you even have a look at the weekly charts then also the sideways trend is very clear and hence we have been saying that though Nifty can move higher by a few hundred points on a given day and move lower by few hundred points on a given trading day but eventually till the point in time the trading range does not break which is formed between 11000-10600 till that point in time there is no point in taking a directional trade for Nifty so let Nifty breakout of the trading range that’s been formed between 11000-10600 and then we will see what to do but till the time the trading range is not taken out with higher than average volumes till that point in time we do not see any sense in trying to trade Nifty or for that matter Bank Nifty since the trend remains sideways for the time being and hence we have been saying to look to individual stocks. Based on my Nifty trend analysis / Nifty prediction wait for the trading range to break for directional trade.
Now, although the Nifty trend as of now is sideways but make no mistake there is some serious damage going on for the past few trading days in the small and midcap space or rather to put it in other words baring a few select counters may be 10 or 5 counters which are holding the Nifty around the current levels most of the broader market is having a serious sell off and most of the broader Indian stock market is trading around the levels of 7000 so don’t be fooled about where the Nifty is and that is the reason why we were consistently recommending getting on to as mush cash as possible but now most of the damage has been done and now there are some select stocks where there is deep value to be honest it’s a sale in some of the counters there is massive valuation safety and the earnings have bottomed in some of these names and we will not be surprised to see 30-50 percent upside in these select names by the end of 2019 so now is the time to buy those select deep value stocks where there is good earnings visibility, deep value and good management if these criteria’s are being meet then start accumulating good high quality stocks and we are saying that we will see returns of 30-50% regardless of the election outcome or any other variables because the prices have been hammered to such juicy levels we wont be surprised to see sharp rallies in them shortly. Regular readers of this website are well aware we had such an opportunity in the market a few months back when Nifty was around 10000 levels and we bought a few stocks which gave us returns of almost 30% in just 5 weeks so even now some of these names are at such attractive valuation standpoint we will see good returns if buying is done selectively. Please keep in mind that we are not painting the entire market with the same brush but there are some select pockets of deep value and they should be accumulated in your portfolio in a staggered manner.
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. Be selective in buying high quality stocks where deep value is present and you will make a good return from current levels. You can go through our USD to INR Forecast by clicking here here http://www.mallavv.com/nifty-trend-prediction/usd-to-inr-forecast-today-15-2-19.html http://www.mallavv.com/nifty-trend-prediction/usd-to-inr-forecast-today-15-2-19.html
Good Trading to you!