Nifty Prediction for tomorrow 23rd July 2021

Nifty Prediction for tomorrow 23rd July 2021 Nifty range-bound trade continues with positive bias till 15450 spot Nifty holds. Resistance at 15920 must be taken out for upside target of 16450

Part of what we did

[14:26, 7/12/2021] Glen Drago: Ambuja Cem Buy on dips between 371-360 spot levels for target 391 sl 359 on closing basis

[23:20, 7/16/2021] Glen Drago: Gold sell 1 part at cmp/48050 on rise we will sell 2nd part 

[10:11, 7/19/2021] Glen Drago: Bpcl buy in 2 Parts buy 1 Part at cmp

[10:12, 7/19/2021] Glen Drago: Confirmation bpcl bought 1 part at 456 spot level if comes lower we will add

[10:56, 7/22/2021] Glen Drago: Muthoot Fin Buy in 2 Parts Buy 1 Part at cmp

[10:57, 7/22/2021] Glen Drago: confirmation Muthoot fin bought 1 part at 1576 spot level mentioned

[12:02, 7/22/2021] Glen Drago: bpcl book 50% at cmp 463 for buy done at 456 spot levels mentioned

[12:02, 7/22/2021] Glen Drago: confirmation bpcl booked 50% positions at 463 hold rem 50% longs as told

[12:19, 7/22/2021] Glen Drago: Muthoot fin book 50% at 1610 (prefeed) spot for buy done at 1576 and hold rem 50% long qty

[12:31, 7/22/2021] Glen Drago: confirmation Muthoot fin booked 50% longs at 1610 for buy done at 1576. Hold rem 50% long qty now

We also did trade tata steel and dlf and made some money in them also. So, the overall point is Nifty and Bank Nifty remain in a trading range and till that range is not taken out it will be prudent to trade individual stocks which are in a trend rather than trying to force a trade-in Nifty or Bank Nifty.

Nifty Prediction system update

So, there is another update we have updated our trading algorithms and we are happy to announce the outputs of them

Out of 100 trades, 25 will be in a loss of 2rs, 25 will be at no profit no loss, 25 trades will give us 5-9 rs per trade and the rest 25 will give us 10-19 rs so net out optimized system will be much more profitable with much lower risk exposure than our old systems.

Bottom line take trades in 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 downtrend. 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.

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

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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Glen Drago