Nifty Prediction 7-4-2021

Nifty Prediction for tomorrow Nifty trend is sideways so on the higher side at appropriate resistance short sell and keep covering around lower side supports

so we did book our shorts and overall made very good money over the past few days those who want to read our chat transcripts / call logs please refer to our previous post by clicking here

So many have been asking me where to from here and the answer is for the moment every stock and every index is doing its own thing so for e.g. Bank Nifty and most and I say most of the banking stocks are in a clear downtrend so the strategy to be applied there is to sell on rise but only on appropriate pullbacks and at appropriate resistances. As far as Nifty is concerned overall it remains sideways and higher side at strong resistance short selling can be done but traders must look to book full profits or at least part profits regularly so going further Nifty has banking which is pulling it lower and metals and partly cement which is pulling it higher the combination of both is that Nifty is overall broadly as of now in a range and hence we say that every single instrument has to be traded on its own merit. Just to add to that point many sun indices are in a downtrend here but global markets are in an uptrend for the moment and at the same time gold and silver have minor reversal signals indicating that trend change here is possible so I hope you get the point that whatever you are trading please individually look at that specific instrument and do not use any correlations whatsoever because none of them are currently working so don’t use any historical barometer or correlation to trade just simple look at the individual counter that you want to trade.

Bank Nifty Prediction for tomorrow 

trend down on rise at appropriate resistance short sell with strict stop loss

As usual, if you are only trading on the basis of the post please use your own risk management and then only trade. please do not over trade and always keep your risk in check at all times.

Regards,

Glen Drago

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