Nifty Prediction for tomorrow 20th July 2021

Nifty Prediction for tomorrow 20th July 2021 Nifty back in the range. Overall sideways move with positive bias till we do not close below 15450 spot level.

Once again we are back in the trading range and this is exactly the point why we have been avoiding trading in Nifty for the past few weeks. Nifty needs to break 15450-15920 spot with momentum and volumes for any trade to be initiated. Till the time breakout does not happen we will have to choose individual stocks and trade them independently. 

Tata steel, ambuja cement, dlf we continue to hold longs and we will use a trailing stop to continue riding the trend there. BPCL holding today’s lows should give a good move on the upside however for any stock-wise bullishness we must see Nifty holding 15450 spot. Ideally, avoid trading in Nifty till the time breakout is not seen with heavy volumes and momentum. 

Holding 15450 we should see the party continue in individual stocks. Please don’t get me wrong I am not suggesting that pullbacks won’t come sure they will come but prices in up-trending stocks will move back up from support zones.

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

Bank Nifty Prediction for tomorrow

Bank Nifty has support around 33900 and resistance around 35950 till this range holds no point trading here. The same story goes for individual stocks in the banking space also. 

Bottom line trade stocks that have clear trends and avoid Nifty and Bank Nifty for the time being. Also, avoid counters or stocks that are in a trading range. Look for anything that is in up or a down trend. Sideways markets don’t make money or even if they do they don’t make big money. Big money is made in trends so look for trending counters.

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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