Nifty Today’s Trend, Prediction, View, Target 10th July
Nifty has been moving sideways between 10500- 10830 for the past few days along expected lines with a positive bias and moving higher slowly in a gradual manner as predicted and today did break above the first resistance area of 10830 which we were expecting and predicting. As per our analysis, view, prediction we expect Nifty trend to continue to remain sluggish but till the point, we do not see any breakdown traders can keep trading both sides or wait on sidelines as Nifty overall trend, for now, is sluggish and Nifty Futures is not the place to trade for now. There are some other counters which have much better risk-reward ratios and setups which could make much more money with much easier than trying to trade the Nifty (sideways markets don’t make money trending markets do, so since Nifty is sideways and sluggish better to look elsewhere for the time being). Having said that the current time band of the next few days are very important as there are some very powerful astrological signatures present in the coming days starting with the solar-lunar effects on Monday and going all the way towards the solar eclipse and in between all of this we have Jupiter going direct in this week so all this activity will definitely have an impact on the markets but to what extent and till where we see the Nifty moving that we will discuss later just keep in mind that we will be seeing some significant impact on the Indian stock markets and traders must remain very alert for any changes that take place and avoid view based trading, rather look at the levels and trade as trend could become very confusing thanks to the geocosmic signatures that are present throughout this week and the next week also . Currently most of the market participants are selling on rise but the problem is everyone has the same stop loss and everyone is talking about effects of crude oil and usdinr (we are not saying that they are not impacting the Indian economy and stock market but for the near term watch for some changes there too, only the near term longer-term crude oil remains in bull market or uptrend) so rather than having a view look at the trend and the price what they are doing and where they are heading and where is the resistance for Nifty, for now everyone is talking about 10930 spot Nifty levels as resistance but that area also could break in the near term looking at the overall open interest positions, not suggesting that a bull market is coming or is in place but just the near term trading could get very tricky so be very careful. 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 please keep your risk in check at all times.
Good Trading To You!