Nifty Today’s Trend, Prediction, View, Target 21st June

Nifty Today’s Trend, Prediction, View, Target 21st June

Nifty Futures today moved higher along expected lines. As per our analysis, view, prediction we see that main trend is down however as we have guided in the website update that we could see another round of pullback and that is exactly how Nifty is moving. There could be some volatility over the next few trading days so please keep that in mind and traders will have to be very nimble footed to make money as trading in and out will have to be done in order to profit from the current market scenario. One of the reasons for that is currently we are of the view that Indian stock markets will neither be in a clear up trend neither we see Indian equities tanking in the immediate term so it will actually end up being a range bound movement and nothing else but on some days it will feel like Nifty is going to crack and the bears will think they have won the battle while on some other days bulls will be elated and start prediction of new highs or 12000 levels or 11500 or may be some higher levels but the point remains that neither side will be seen winning from larger time frame charts so if you look smaller time frame charts we will see some zigzag movements. If you are only trading on the basis of this post please your own risk management and then only trade, please do not over trade and always keep your risk in check.

Longer term our view, prediction remains that trend is lower but from a near term perspective we see sideways movement hence trade for small targets for now

Part of what we have recommended over the past few trading days.

6/14/18, 12:03 AM – Glen Drago: Fed indicates 4 hikes this year up from previous guidance of 3 hikes

6/14/18, 9:13 AM – Glen Drago: Gm

6/14/18, 9:13 AM – Glen Drago: Hold positions as told

6/14/18, 9:14 AM – Glen Drago: Will update if anything has to be done

6/14/18, 9:43 AM – Glen Drago: Stbt trade book profit for sell done at 10886 spot levels

6/14/18, 9:44 AM – Glen Drago: Confirmation stbt trade booked

6/14/18, 9:44 AM – Glen Drago: Continue holding positional shorts as told

6/14/18, 9:44 AM – Glen Drago: If anything else has to be done will update

6/14/18, 2:32 PM – Glen Drago: Hold positions as told

6/15/18, 9:10 AM – Glen Drago: Gm

6/15/18, 9:10 AM – Glen Drago: Hold positional shorts as told

6/15/18, 9:10 AM – Glen Drago: If anything has to be done will update

6/15/18, 11:13 AM – Glen Drago: Wait for stbt trade

6/15/18, 11:13 AM – Glen Drago: As and when anything has to be done will update

6/15/18, 1:11 PM – Glen Drago: If anything has to be done will update

6/15/18, 1:12 PM – Glen Drago: Don’t tender renuka sugar revised offer at 25.

6/15/18, 1:18 PM – Glen Drago: Hold positional shorts as told

6/15/18, 2:17 PM – Glen Drago: We may do some tactical entry and exit in Nifty just FYI

6/18/18, 9:04 AM – Glen Drago: Gm

6/18/18, 9:04 AM – Glen Drago: Hold positions as told

6/18/18, 9:04 AM – Glen Drago: Will update as and when anything has to be done

6/18/18, 12:12 PM – Glen Drago: Nifty has significant overlapping going on and we don’t see any upside sustaining. Overall we will remain in range of —– for few more days. Till this range is not taken out not much expected.

6/18/18, 12:14 PM – Glen Drago: Spot Nifty levels mentioned but we don’t see any upside sustaining. That’s the range of sideways movement.

6/18/18, 12:14 PM – Glen Drago: We will be moving positions to other instruments to benefit from time value but wait for right time to do so

6/18/18, 3:06 PM – Glen Drago: Nothing to be done for now

6/18/18, 3:06 PM – Glen Drago: Hold positions as told

6/18/18, 3:06 PM – Glen Drago: Few more days of time pass within this range possible

6/18/18, 3:07 PM – Glen Drago: As and when anything else has to be done will update

6/18/18, 3:07 PM – Glen Drago: From a tactical stand point we will be adjusting positions

6/18/18, 3:07 PM – Glen Drago: But still some time is pending for that to be done

6/19/18, 9:07 AM – Glen Drago: Gm

6/19/18, 9:07 AM – Glen Drago: Hold positions as told

6/19/18, 9:08 AM – Glen Drago: Will update in sometime

6/19/18, 9:33 AM – Glen Drago: Nifty exit 2 parts positional shorts at cmp

6/19/18, 9:34 AM – Glen Drago: Confirmation Nifty stbt exited 2 parts

6/19/18, 9:34 AM – Glen Drago: Bank Nifty exit 1 part at cmp

6/19/18, 9:34 AM – Glen Drago: Confirmation bank Nifty 1 part exited

6/19/18, 9:57 AM – Glen Drago: We can see levels of —– spot Nifty but this is not the down move that we are expecting. Rather this is just another part of the pullback wave so we could once again bounce back to —– levels give or take a few points so bottom line is that this is not the wave down and since we see another round of pullback there is no point in remaining short at current levels

6/19/18, 9:57 AM – Glen Drago: Will update in sometime as and when we have to cover remaining shorts

6/19/18, 9:58 AM – Glen Drago: Please understand that main trend remains down it is only that bounce will be extending towards the area of ——— with minor variation

6/19/18, 9:59 AM – Glen Drago: On lower side we will exit remaining shorts and wait for upper side area to come before we reenter shorts

6/19/18, 9:59 AM – Glen Drago: Will keep updating but for now just be on sidelines

6/19/18, 12:20 PM – Glen Drago: Close all remaining shorts

6/19/18, 12:20 PM – Glen Drago: Confirmation all Short’s closed

6/19/18, 12:20 PM – Glen Drago: Confirmation no open positions

6/19/18, 12:20 PM – Glen Drago: If anything else to do will update

6/19/18, 12:51 PM – Glen Drago: Yesterday we mentioned that we will be doing tactical trade and wait for the time. Today we were expecting the fall till around the 10700 area but we don’t see much more downside now from current levels. We don’t see any wave characteristics that we should be seeing so we exited our shorts but keep in mind that doesn’t mean that a bull cycle is on. It’s a pullback that’s it and it should end around —— give or take a few points. The market currently has a consensus trade sell with SL of 10850 or some say 10930 and we don’t see that trade working out for now. The system currently is full of shorts and we don’t see that markets will move directly lower from here. We see this as a bear trap currently and then at —– it will be a bull trap. Be on sidelines and wait for msg to trade

6/19/18, 1:03 PM – Glen Drago: High risk trade BTST Nifty Buy 1 part at cmp and 2nd part at 10680 SL 10661 spot Nifty levels mentioned

6/19/18, 1:03 PM – Glen Drago: Confirmation BTST trade 1 part active

6/19/18, 1:54 PM – Glen Drago: Exit BTST at cmp

6/19/18, 1:54 PM – Glen Drago: Confirmation BTST exited

6/19/18, 1:54 PM – Glen Drago: If comes lower will update when to buy

6/19/18, 3:10 PM – Glen Drago: BTST buy 1 part Nifty at cmp

6/19/18, 3:10 PM – Glen Drago: Confirmation BTST trade 1 part active

6/20/18, 9:08 AM – Glen Drago: Gm

6/20/18, 9:08 AM – Glen Drago: Hold 1 part BTST long as told

6/20/18, 9:08 AM – Glen Drago: Will update if anything has to be done

Good Trading To You!