Nifty Prediction for tomorrow 11th June 2021

Nifty Prediction for tomorrow 11th June 2021 trend is sideways with a negative bias. On rise at appropriate resistances short sell with strict stop loss for lower targets in the next few days.

Nifty has been struggling to move higher and has been consistently giving momentum divergences. We are nearing a time band of series of important astrological signatures which have a history of turning the trend. Some of these are mid-point mercury retrograde. There is also a solar eclipse on 10th June at 19 degrees Gemini which is in conjunction with Mercury and squares Neptune in Pisces. The net result of this will be confusion and rumors. hence exactly opposite to what can happen or public perception can happen because of these astrological signautres.

As of now, however, we do not have visual confirmation of the change of trend yet. Hence we need to take one step at a time and not short sell from a positional angle until and unless we have confirmation of trend reversal which is still not there. Till the time we do not see a confirmation of trend reversal, we must be trading in and out only. 

Nifty prediction for tomorrow
Nifty prediction for tomorrow

Bank Nifty prediction for tomorrow

Bank Nifty looks weaker than Nifty. Many stocks in the banking space are weaker than most constituents of the Nifty. Nifty as of now has reliance holding it higher while bank nifty has been a drag on the Nifty. I see more weakness and bank nifty leading the down move in the markets however selling is only to be done with strict stop loss at appropriate resistance areas only. This is still not a sell-and-hold. Whenever sell and hold and trend reversal confirmation comes we should see a 30000 target on the bank nifty. 

As usual, 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 always keep your risk in check. 

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Regards,

Glen Drago

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