Nifty Prediction for tomorrow 21st May 2021

Nifty Prediction for tomorrow 21st May 2021 Nifty trend is sideways with a positive bias. Buy on dips can be done but only at quality support zones only.

Just two days back everyone on the street was talking about a breakout. We however mentioned in our last free update on Nifty that unless we see a breakout with volumes trading range will continue. We were perfectly bang on in that Nifty Prediction also. Nifty has just been grinding in a trading range. Yes, we can see some upside and that can take Nifty eventually towards a target of 15250. In the near term buying at good support, zones should be done. Try to find trending counters. Try to avoid Nifty Futures or Nifty options for that matter if possible. Look for better trending counters as they should be outperforming Nifty and broader markets.

Nifty Prediction for June 2021

Nifty as of now remains sideways. In the month of June we or even possibly towards the end of May we can test 15250 as well then test 14000-13800 level. So all of whom want to make a big trade our time should be around 15250 or thereabouts. We will watch out for a topping formation first. Unless we see a confirmation of top formation we won’t short sell. However, if a top formation does take place we can see a swift down move for targets of 13800 to 14000. There are lots of moving parts to this prediction. Hence if you are not our client then please use your risk management systems and follow this prediction.

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

Bank Nifty Prediction for tomorrow

Bank Nifty can also see some more upside. In fact, the upside here could surprise some or most people. Not suggesting any major move higher but yes we can see some decent move here over the next few days. Looks like Bank Nifty will end up making a lower top and then move towards the 30000 targets.

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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