Nifty Today’s Trend, Prediction, View, Target 24th Dec
Nifty today’s trend was bearish from the word go and has moved exactly in line with my prediction and view. As per my analysis, prediction, view we had mentioned openly on the website since the past 3 trading days that Nifty has significant resistance on higher side and we do not see nifty sustaining on the higher side. Many of you did not understand what we were communicating and many of you were arguing with me as to why and how our markets will fall but the point was that in a background where world stock markets are in sharp down trend it was very clear that Nifty will not hold out against the world markets for long in addition to the world stock markets being in sharp down trends there were other factors like Brent Crude oil having done its first lower target was about or rather is about to begin a pullback rally again please understand the pullback in Brent crude oil should not be mistaken as a fresh trend it will only end up making another lower top as far as the Brent crude oil market is concerned and then once again start its main trend down and move towards lower targets but for the time being the best of the tail wind that crude oil had to provide to Indian stock market is in the price, also rupee which was under control will once again start moving higher towards 75+ and this will not go down well with the market. I have clearly mentioned the reasons as to why I see the rupee moving lower and depreciating from current levels so all and all my view remains for the downside but at the same time keep in mind that from time to time we will have to do tactical trades and we will keep updating them to our clients. As usual if you are only trading on the basis of this post please use your own risk management, always keep your risk in check and please do not over trade. As per my prediction, view we dont see much upside from current levels and for the time being our targets are have been done.
We did do some option trades and theyhave worked out very well and we did book some profits today and did some fresh trades also be very nimble footed and watch out for the markets.
Good Trading To You!