Nifty Today’s Trend, Prediction, View, Target 2nd July

Nifty Today’s Trend, Prediction, View, Target 2nd July

Nifty moved higher today in style and perfectly did text book moves along expected lines. We had mentioned this in our website post also that near term downside is limited and there will be another round of up move some may call it bullish cycle move, some may call it short covering and some may call it just another pullback but whatever you call it does not matter the point is that there was a up move about to come based on multiple parameters and we did catch the bottom yet again and have perfectly traded the same. Besides the Nifty we also did almost catch the bottom in Jet Airways we feel that near term crude oil upside is limited (only in near term) and the chart structure of Jet airways was looking good to us so we did initiate longs in Jet air yesterday and that was also zooming higher today. So now what to expect? We will keep updating our customers during live market as to what to do from now onwards. If you are only trading on the basis of this post please use your own risk management and then only trade. Please do not over trade and please manage your risk at all times. As per our analysis,view,prediction near term trend remains buy on dips with appropriate stop loss for higher targets.

Part of what we mentioned yesterday and today

6/28/18, 9:07 AM – Glen Drago: Gm6/28/18, 9:07 AM – Glen Drago: Hold positions as told6/28/18, 9:25 AM – Glen Drago: Will keep updating as and when anything has to be done6/28/18, 10:18 AM – Glen Drago: Bharat Forge Book profit in remaining qty for buy done at 593 spot levels6/28/18, 10:18 AM – Glen Drago: Confirmation Bharat Forge booked profit totally6/28/18, 10:19 AM – Glen Drago: BTST trade hold Nifty 2 parts longs, BOB hold long as told6/28/18, 10:19 AM – Glen Drago: If anything else is needed to be done will update6/28/18, 12:04 PM – Glen Drago: Jet Air Buy Between 335-332 SL 328 TGT 429 Spot Ns levels mentioned6/28/18, 12:05 PM – Glen Drago: spot nse levels mentioned6/28/18, 12:09 PM – Glen Drago: Nifty will be reversing from 10525-10600 zone for higher side target. next —-weeks markets will remain bullish and near-term we see Monday-wednesday as —- for the markets6/28/18, 12:10 PM – Glen Drago: will keep updating as and when anything has to be done6/28/18, 1:01 PM – Glen Drago: Jet buy 1 part at cmp and 2nd at 331 SL 328 spot levels6/28/18, 1:01 PM – Glen Drago: Confirmation jet airways 1 part active6/28/18, 1:03 PM – Glen Drago: Hold 1 part long Jet Air, Hold BOB 1 part Long, BTST trade hold 2 parts long Nifty as told6/28/18, 1:03 PM – Glen Drago: If anything else has to be done will update6/28/18, 1:04 PM – Glen Drago: Crude Oil is about to reverse and move lower. It will be a corrective wave in crude oil but prices will retrace so near term headwinds for India are expected to cool off and all global markets are expected to move higher.6/28/18, 1:05 PM – Glen Drago: Hold positions as told will keep updating as and when anything has to be done6/28/18, 1:59 PM – Glen Drago: Chartered plane crashed in ghatkoper6/28/18, 2:09 PM – Glen Drago: Nifty add 1 more part at cmp6/28/18, 2:09 PM – Glen Drago: Keep space another part6/28/18, 2:09 PM – Glen Drago: Totally 4 parts6/28/18, 2:32 PM – Glen Drago: Wait to but 2nd part jet6/28/18, 2:41 PM – Glen Drago: Shanti karke baitho aramse6/28/18, 2:41 PM – Glen Drago: Nifty is about to make a bottom around current levels and move higher6/28/18, 2:42 PM – Glen Drago: Be patient and wait for msg6/28/18, 6:22 PM – Glen Drago: Many of you are wondering why we have become bullish?  Firstly understand that whatever the charts will show I will only tell you that. Let me share just a bit with you as of now. Let’s look at RSI on 26/06/18 RSI was 53 and today RSI is at 41 which means that closing price on 26th was 10769 and today closing is 10595 which means in 174 points down fall RSI has fallen by 53-41=12 points 174/12=14.5 so for every 14.5 points drop in price we have seen 1 point RSI come off at this rate RSI to be @ 30         14.5*11 (41-30)= 160 points. 10595-160= 10435 so at 10435 RSI will go into double bottom zone and so will the Nifty which means that markets make a major bottom.  If that is the case then the subsequent rally will be of minimum 10%. Which means 11478 will be the target and hence as of now does not make any sense to remain short or be short. Let us look at this from another angle. Mars has gone retrograde 3 days back. As a astro cycle rule, if markets are declining immediately from mars retrograde date then —– So mars retrograde was 3 days back today 3 td is done and another — to go at best so post this bottom markets rally by min of — if it is less than a 50 week cycle and if it a 50 week cycle bottom then we see that prices move around —- and even in that case markets will reverse and zoom higher.Now many of you are asking me what about crude oil. Crude oil has been a problem since sometime however Nifty did not react to the crude oil move despite crude oil moving from 28 to 72 Nifty did not bother and continued its trend now  we see crude oil will be making near term top and provide a correction so this will act as a tail wind instead of a head wind so imagine when there was head wind markets did not react and now that will become a tail wind for the market.USDINR looks again to have made a near term top and has reversed and is looking to retrace back towards 67 and in this case like crude oil markets did not react to this head wind but the tail wind will be welcomed by the market.Global markets position is oversold and many of them are nearing major dz area so if that is the case (and also applying same astro rule of mars ) we see that price in all global markets will zoom higher.Nifty stand alone technical chart: Let me now assume that I am wrong and this is actually a bear move in that case we should have seen faster retracement below the last swing. So the previous swing bottom is at 10400 and from 10400 we moved to 10893 in 15 days and from 10893 till today we have already consumed 12 td and that is not a sign of bear move, a bear move will generally take bottom out in less than half the time.  Look at the fall we had from 11171 or 10930 look at the sheer speed from the word go but in current case speed has only come in the past 2 td and that is also not really much (we are outperforming global markets)  The RSI factor has also been discussed above.Sentiment indicator which is very powerful now. Every one including some of my clients are telling me to short sell some are even abusing me that why we went long the avg for our 3 parts is 10630 which on a closing basis is just 35 points lower from our price but everyone seems to be in such a panic about the fall as though the m to m is 350 points.  Call anyone on the street and ask anyone whats the view and target everyone will talk of a downside target. Rule again whenever everyone are on the same side of the trend that does not happen. Conesus trades don’t work. Bottom line we don’t see markets moving lower from here, markets will move higher to what exact level and target we will see later but as things stand this is not a bear move it’s a bear trap for sure and matter of next 1-3 td before markets reverse. Have patience and follow msg.6/28/18, 6:23 PM – Glen Drago: many more reasons but not getting into them markets will show you what I am trying to explain in a matter of few days6/29/18, 9:15 AM – Glen Drago: Gm6/29/18, 9:15 AM – Glen Drago: Hold positions as told6/29/18, 9:19 AM – Glen Drago: Hold BOB and jet as told6/29/18, 10:11 AM – Glen Drago: If anything else has to be done will update6/29/18, 12:38 PM – Glen Drago: Hold positions as told6/29/18, 12:38 PM – Glen Drago: If anything has to be done will update6/29/18, 1:22 PM – Glen Drago: If anything to do will update6/29/18, 1:22 PM – Glen Drago: Tc and enjoy your weekend.

Good Trading To You!