Nifty Prediction for tomorrow 21st June 2021 Nifty trend is down however pullbacks will keep coming so short sell on pullbacks and hold shorts.
Yes, the trend has turned lower however pullbacks will keep coming for the next few trading days. This is because Mercury is still retrograde so countertrend moves are easily possible. Eventually, we see Nifty heading lower. Short selling can be done however must be done only at low-risk points or resistance zones. Taking July end of the month puts also will be a good trade. Trying to short futures anywhere won’t make money.
It is possible that the move is getting compleated from 7511 and hence we have been extremely cautious over the past few weeks. We will update more on that in the next week. There were some close people who passed away in the past few days and hence could not update regularly through this week.
Nifty Prediction for rest of 2021
Anyways, coming back to the markets. Inflation numbers were at 6.3% this week. This is in line with our prediction of higher inflation. The next print should be around the 7% area or 6.8%. The RBI will downplay the next round of data also however inflation will remain sticky and the RBI will initially reduce open market operations gradually which means that liquidity will slowly start drying up. So this is another important development this week. It will be important to see how the Indian bond yields react over the next few days. This is one area to watch out for.
Bank Nifty prediction for tomorrow
Bank Nifty trend remains lower. This is much weaker than the Nifty. We see the target of 30000 for Bank Nifty over the next few weeks. Shorting should be done however only at low-risk areas with strict stop loss. We have initiated some shorts on options as well as futures and we will be holding them positionally for the time being.
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.