Nifty Prediction for tomorrow 25th Aug 2021

Nifty Prediction for tomorrow 25th Aug 2021 Nifty short term trend has turned down however medium term trend remains up. Stock-specific buying should be done on dips.

Last week we did see our systems show us a pullback is coming (on 18th Aug). Hence we booked profits in Tata Steel longs, Nifty 26 Aug 16600 Call options, and Tata Consumers longs (all of these made good money). Now, what we see as per our Nifty systems is that currently Nifty is giving a pullback and once the pullback is done we should resume the up move. However, as of now charts are indicating beaten down names from capital goods and maybe even a few select banks should lead while the big IT names could take a break from doing the heavy lifting in the markets.

It is even possible that cement stocks that have been correcting should end their pullback and start the next leg up.  So all and all we could see the current leaders take a back seat and the sectors which are currently giving a pullback start leading from the front. Having said that the entire move will be very stock-specific and hence what to buy when to buy and where to buy will be very important and just buying anything from any stock will not make money.

Nifty Prediction for the next week we could see a pullback towards 16350 or even 16100 it is possible so as of now be prepared for a good pullback and use that pullback to buy high-quality stocks in capital goods.

Bank Nifty Prediction for tomorrow

Bank Nifty has been sideways and has been underperforming Nifty for quite some time now. Overall, we need a breakout above 35500 with momentum and volumes for an upside rally. If this breakout does happen do expect Nifty to head for 17100 however banking has to lead.

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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Regards,

Glen Drago

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