Nifty Today’s Trend, Prediction, View, Target 26th Sep
Nifty Futures today had another volatile day. Nifty started the day lower and went and tested the support zone of 10900 and had a sharp bounce back from those levels and went all the way to 11050 spot Nifty levels mentioned and then once again had another down move towards 10950 levels. Eventually Nifty closed the day in the but keep in mind that though Nifty is oversold in the near term and has important levels in close proximity price trend remains down so for the time being be very nimble footed.
Yesterday we had guided that although Nifty trend is down as of now we are nearing some important support zones both in terms of time cycle supports as well as price area support zones and our prediction, view and advice to traders who are short was that they should trail their short selling positions or should look to book profits in shorts at lower levels or around support area or may be even look to play on the long side for the pullback. Nifty perfectly did move exactly along expected lines and we did go long in the morning today and booked partially and as of now we will keep trading in and out both on the long and the short side as deemed fit but keep in mind that only those traders who are nimble footed will actually end up making money so this is not going to be a buy and hold or even a sell and hold market for the time being as per our analysis, view and prediction we expect the markets to be very choppy so trading in and out should be done rather than taking a vanilla directional trade. It is also important not to get carried away by the sharp zigzag movements and it will be prudent to stick to your own trading plan.
Overall in the near term Nifty trend is down but as per my view, prediction is that we could see some sharp bounce back for retracement targets so trade in and out on both sides with low risk entry points and manage your risk. Do not over trade the volatility as of now could get you trapped so trading a bit light in such hefty volatility will be a better strategy.
Good Trading To You!
Part of what we did today
9/25/18, 9:14 AM – Glen Drago: Good morning
9/25/18, 9:14 AM – Glen Drago: No open positions for now
9/25/18, 9:14 AM – Glen Drago: Wait for msg to trade
9/25/18, 9:14 AM – Glen Drago: Will update in sometime
9/25/18, 9:33 AM – Glen Drago: Nifty buy 1 part at cmp
9/25/18, 9:33 AM – Glen Drago: Confirmation Nifty 1 part active
9/25/18, 9:36 AM – Glen Drago: Nifty buy 2nd part at cmp
9/25/18, 9:36 AM – Glen Drago: Confirmation Nifty 2nd part active
9/25/18, 9:36 AM – Glen Drago: We will buy 2 more parts as and when deemed fit
9/25/18, 9:37 AM – Glen Drago: Nifty has good support between —- spot Nifty levels. From this area it is very much possible for Nifty to reverse trend and even move to —– but there are many minor variations possible in that so for the time being it will be prudent to go long and just work with an initial target of —— spot Nifty levels if there is speed and momentum and other some conditions are present are meet then we could see this converting to a new —– trend so please keep that in mind. To start with we will be going long only keeping in mind targets of —– spot but if speed and other criteria is present then we will upgrade the target.
We do not see direct downside from here and there is also a possibility that Nifty could move higher towards —–and retest the area of —– around 4th -8th Oct 2018. Even in this scenario a— trend would be formed because there are very important time cycle supports converging with price support areas in the coming days.
9/25/18, 10:17 AM – Glen Drago: Nifty book 2nd part at cmp
9/25/18, 10:17 AM – Glen Drago: Confirmation Nifty 2nd part booked
9/25/18, 10:18 AM – Glen Drago: Continue holding 1 part Nifty long as told
9/25/18, 10:18 AM – Glen Drago: Will keep updating as and when anything needs to be done
9/25/18, 1:43 PM – Glen Drago: Nifty buy 2nd part
9/25/18, 1:43 PM – Glen Drago: Confirmation Nifty 2nd part active
9/25/18, 2:14 PM – Glen Drago: Nifty book 2nd part at cmp
9/25/18, 2:14 PM – Glen Drago: Confirmation Nifty 2nd part booked
9/25/18, 2:14 PM – Glen Drago: Nifty continue holding 1 part as told
9/25/18, 2:14 PM – Glen Drago: If anything else is needed to be done will update