Nifty Prediction for tomorrow 16th Aug 2021

Nifty Prediction for tomorrow 16th Aug 2021 Nifty trend remains up Buying on dips strategy should be used till short term supports hold. Near-term support at 16321 spot levels mentioned.

This week too was a fantastic week for all our clients. We did make good money in HDFC, Nifty Aug 16400 Call Buying, and Tata Chem. Overall the Nifty trend remains bullish for now. Even though many people are calling for a top and shorting the markets looking at the fundamentals however from a technical standpoint trend is intact and only buying will be making money.

Having said that buying randomly anywhere anyhow will not be making money. Traders will have to be very stock-specific because over the past two odd months mid-caps and small caps were doing well and Nifty and its components were sideways or correcting. Now, Nifty and its components are doing well while midcaps and small caps are seen correcting, and that too with sector rotation.

Nifty Prediction / Nifty Trend for rest of 2021

There are two worlds out there the investors and traders. For Investors, I am not comfortable with the over-heated valuations and hence I would not buy fresh in the portfolio however as far as traders are concerned trend remains up for now and till that does not change buying on dips is the only way to follow and make money.

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

Bank Nifty Prediction for tomorrow

Bank Nifty has once again become sideways in the near term. So only on a breakout, we can see Bank Nifty heading for 37000 however keep in mind that Bank Nifty has been seriously underperforming Nifty and this will only be a trading bet for investing as of now charts on icici bank and state bank of India look decent however better opportunities present in capital good space for the immediate term.

 

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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