Nifty Today’s Trend, Prediction, View, Target 12th Sep

Nifty Today’s Trend, Prediction, View, Target 12th Sep

Nifty today was seen consolidating for most of the day but towards the second half Nifty started or rather resumed the down trend that we have been talking about. The fall was sharp and perfectly along expected lines but keep in mind that Nifty trend in the next few days could start getting choppy and hence keep trading in and out and do keep taking regular profits off the table.  The Nifty trend is down. Our prediction, view remains to sell at higher levels or resistance areas for lower targets but at the same time keep taking profits at regular intervals and not to get carried away by the fall. Just keep a pure traders mentality rather than looking for a sell and hold strategy as we expect pullbacks to keep coming from time to time. 

Rupee had another weak session today and despite RBI trying to intervene the dollar demand is too powerful and hence prices are moving in such a powerful manner anyways that does not matter for the time being as we have said the rupee has good support around 75 and we do not think that any sort of intervention for the time being will work that is because the demand for dollars is way too high that what the RBI is supplying.

Good Trading To You!

Part of what we did

9/11/18, 9:11 AM – Glen Drago: Good morning

9/11/18, 9:11 AM – Glen Drago: Hold positions as told

9/11/18, 9:11 AM – Glen Drago: Will update if anything has to be done

9/11/18, 12:47 PM – Glen Drago: Bank Nifty hold 2 parts positional shorts as told

9/11/18, 12:47 PM – Glen Drago: Nifty Hold 4 Parts positional shorts as told

9/11/18, 12:48 PM – Glen Drago: if anything has to be done will keep updating

9/11/18, 12:48 PM – Glen Drago: Nifty is consolidating and post this consolidation we expect Nifty to continue down move. Nifty will keep making lower tops and lower bottoms and have some consolidations and minor pullbacks in between but eventually Nifty will keep moving towards lower target area

9/11/18, 12:49 PM – Glen Drago: if anything has to be done will update

9/11/18, 2:18 PM – Glen Drago: Hold positions as told

9/11/18, 2:37 PM – Glen Drago: Bank Nifty book 1 part

9/11/18, 2:38 PM – Glen Drago: Confirmation bank Nifty booked 1 part

9/11/18, 2:38 PM – Glen Drago: Confirmation we have booked Bank Nifty 1 part shorts done at 27550

9/11/18, 2:38 PM – Glen Drago: Nifty book 2 parts shorts

9/11/18, 2:39 PM – Glen Drago: Confirmation Nifty booked 2 parts shorts

9/11/18, 2:39 PM – Glen Drago: Nifty hold 2 parts positional shorts

9/11/18, 2:39 PM – Glen Drago: Bank Nifty hold 1 part positional short as told

9/11/18, 2:39 PM – Glen Drago: If anything else is needed to be done will update

9/11/18, 2:49 PM – Glen Drago: Please note we have booked profits in Nifty 2 parts positional shorts which we short sold at around 11560 spot Nifty levels. Remaining 2 parts positional shorts we are continuing to hold. Bank Nifty also we have booked 1 part positional shorts done at 27550 spot Bank Nifty levels and remaining 1 part we are continuing to hold.

9/11/18, 2:49 PM – Glen Drago: Will keep updating if anything has to be done