Nifty Today’s Trend, Prediction, View, Target 29th Nov
Nifty trend continues to remain sluggish but with bullish bias. I am not suggesting that choppy moves will not take place sure they will but eventually Nifty will move higher post that choppiness and overall remain within the range of — to —-. Next week is going to be a news heavy week. First there is a trump meet on Friday, then on Dec 5th RBI policy meet is there, Dec 6th we have the OPEC meeting and Dec 8th we have the exit poll results followed by the actual results on 11th Dec. Now there are some important astrological signatures taking place also which are coinciding in these dates so let us look at these carefully.
The trump meeting wont do much there could be a positive outcome as of now but later on those agreements will change into disagreements regardless of the direct event outcome I do not see much longer term outcome from this meeting simply because this meeting is taking place during mercury retrograde so Mercury is the planet that rules communication and when it is retrograde especially in current degrees whatever communication is sent or agreed is later on disagreed upon so if you reach an agreement on anything it is highly likely that that will later on not be honored or there will be some miscommunication taking place so some short term positive news flow can come out of this meeting but eventually I do not see these agreements working out . Now the next news flow which will be one of the key events for our stock markets could be the Reserve bank of India monetary policy meeting much of the street is not expecting any change from the MPC and only expecting some positive talk due to the stand off taking placebetween the RBI and the Govt but looking at various astro cycles and time cycles there could be a surprise on the CRR front in order to add liquidity in the system so we could see a 0.25 bps cut on the CRR front and some really dovish comments looking at the way crude oil and the rupee have been moving so this will add nitro boost to the Indian stock markets and the Nifty and the Bank Nifty so we could see all of these especially banking stocks and some of the leaders like Icici Bank and Axis Bank zooming higher based on this news flow. From OPEC meeting stand point we do not see much cut in production and regardless of what’s the outcome from the meeting crude oil will keep moving lower so around the day of OPEC meeting +/- 2 days crude oil could end up making another lower top and start moving lower again regadless of this event crude oil will remain in a down trend the question is how much pullback will come and then move lower. Election results outcome I have already posted my projections in my previous post so you can see them and read them.
So what to do? As per my prediction, view and analysis I remain of that view that as of now Nifty and Bank Nifty trend remains higher and up buying into panic especially counters which are leading the rally will be a good trade so focus on the leading stocks and buy them on dips for higher targets. It is important though to be nimble footed and keep trading in and out as there are many events and markets could keep giving sharp and swift moves so be very alert on that. As usual if you are only trading on the basis of this post please use your own risk management and trade, Please do not over trade and always keep your risk in check.
Good Trading To You!