Nifty Prediction for tomorrow 24th May 2021

Nifty Prediction for tomorrow 24th May 2021 Nifty trend remains sideways with positive bias. Nifty can test the 15250 target area over the next few days as predicted.

In our yesterday’s free update we mentioned that Nifty should be bought on dips at important supports. Our going long in gold and hdfc bank did make excelelnt money.  So this week too we were bang on with the Nifty prediction once again. We now see Nifty having a positive tone from a near-term perspective. The medium-term Nifty trend remains sideways make no mistake about that. Hence looking at the broader picture Nifty and most stocks remain and trade in and out game for now. 

Nifty Prediction for next few days

Broadly we are heading towards a target of 15250 on Nifty wil minor volatility. However around higher side after these targets are done we will need to review. I say review with the overall situation because at the end of the day this is a corrective move that is going on. We may then head lower and test lower end of the trading range of 13800 which is likely and possible.

nifty prediction for tomorrow
nifty prediction for tomorrow

Bank Nifty Prediction for tomorrow

Bank Nifty minor trend is up. Near term trade aside Bank Nifty will be making a lower top over the next few days. I say lower top with respect to 16th feb 2021 top. So although near term some more upside can come mid term picture is that of a pullback is going on in a down trend having target of 30000. We will review at a that stage what we see is the next target lower or from 30000 a bigger pullback comes remains to be seen. 

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. 

Nifty Prediction given to our clients during live market

[11:07, 5/19/2021] Glen Drago: Gold Buy in 2 Parts Buy 1 Part at 48110

[17:48, 5/19/2021] Glen Drago: Gold book 50 percent at 48290

[14:53, 5/20/2021] Glen Drago: Nifty will make a bottom by Monday and move towards 15250 we will be buying on dips now once we see downside ending for 15250 but this move is only to 15250 after which we will review. ghar bech ke buy nahi karna hai trade light strategy rahega
[15:06, 5/20/2021] Glen Drago: HDFC Bank Buy at 1430 1 Part spot level mentioned

[15:17, 5/20/2021] Glen Drago: Hdfc bank 1 part active
[21:19, 5/20/2021] Glen Drago: Gold book profit in remaining 50 percent long qty at cmp

[09:15, 5/21/2021] Glen Drago: HDF Bank book 50% at cmp/1450 & trail rem 50% long qty to cost/1430 and hold. Spot levels mentioned
[09:15, 5/21/2021] Glen Drago: confirmation HDFC Bank booked 50% at 1447 spot level.
[09:15, 5/21/2021] Glen Drago: Hold rem 50% longs with 1430/cost as trailing sl

[13:15, 5/21/2021] Glen Drago: Will update as and when anything needs to be done
[14:14, 5/21/2021] Glen Drago: book full profits in rem hdfc bank at cmp 1477 spot levels mentioned

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Regards,

Glen Drago

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