Nifty Today’s Trend, Prediction, View, Target 21st Nov
Nifty trend today was bearish. As per my prediction, view we see that Nifty and Bank Nifty will be choppy over the next few weeks but with a bullish bias but targets will be meet on the higher side so it will be a trade in and out market over the next few trading weeks within the range. Money will be made only by the nimble footed traders and on any dip that the ones we have seen today it will be better to pick up the leaders rather than trying to trade the index.
Many of you have been calling me and asking me as to where do I see Nifty around the state election results. The first point is this that regardless of whatever the outcome from the state elections is I personally do not think it will have much of an impact beyond a few trading days on the day of the outcome will be very volatile I am not denying that but I am not in the camp where people are calling it a doomsday scenario because of the state election outcome. As I have predicted as per astro cycles we see MP will be extremely close fight and it is very likely that BJP will end up winning MP state by 2-3 seats so keep that in mind the fight for MP will be a close call but not that it will matter much beyond a day or two. Overall the macros for India are imporovingdrastically with Crude Oil falling and now in down trend and rupee stable this will act as a major boost for Indian stock market. Also what this does is keeps inflation under check and we will not be surprised to see a neutral stance to midly dovish stance by the RBI in the Dec meeting.
Crude Oil has been moving lower perfectly along expected lines and in line with my overall prediction, view and has done its first lower target of on Brent a few trading days back. My overall view on Crude Oil remains bearish for the next few months but keep in mind that pullbacks will keep coming from time to time I do not see a straight line fall in crude oil not that I am seeing any significant pullback in the same. So this will keep a good tail wind for the Indian stock market.
USDINR also has been moving lower perfectly in line with my prediction and view and we had predicted a target of 72-71 more or less today that target is also done and now it will be very interesting to see what rupee does from here. We will keep updating on the rupee to our clients.
Good Trading To You!