Nifty Today’s Trend, Prediction, View, Target 20th June
Nifty Futures today moved lower on the news flow of trade war. Many traders were calling me and saying that look a wedge has broken down in some of the world stock markets and now we are seeing sharp downside and that they are in line with my predictions for the Indian stock market also and some were even aggressively short selling and exiting longs while some were buying some puts for lower side targets all this trade is good from a medium term perspective but as per our analysis, view, prediction we see that main trend in Nifty remains down but there is a possibility of another pullback developing in the coming days. Please keep in mind we are not suggesting for one minute that there is going to be a massive bullish move we only see that the series of pullbacks that were going on from 9952 have not ended and there is a good possibility of shorts being forced out due to 10930 being taken out or some pullback coming back again in the markets again keep in mind that we are not saying that 10930 will be crossed, we are only saying that the series of pullbacks that were going on could show up again and some minor pullback could once again been seen so if you are short selling now around 10700 then keep in mind that you adjust your trade accordingly so that if any pullback does come in the next few trading days then you don’t have to panic or are forced out of your trade. There will be some volatility over the next few days which will end up confusing most of the traders for the real trading direction or the real main trend but keep in mind that main trend regardless of these pullbacks will remain lower and we do not see much bullish move yet at the same time keep in mind that there could still be some more pullback that could take place over the next few days. As usual if you are only trading on the basis of this post please use appropriate risk management and then only trade. Please do not over trade and always keep your risk in check. Till where and when is the pullback possible we have communicated that to our clients.
Good Trading To You!