Nifty Prediction for tomorrow / Nifty trading view Nifty is in a sideways move overall but with a negative bias. Till 14950 spot is not crossed negative bias continues however in panic booking profits in shorts is recommended
Nifty as we have predicted we are seeing a bounce going on or can also be interpreted as a sideways move going on overall the Nifty strategy is to sell on the rise at resistance areas with strict stop loss and keep covering on the lower side at regular intervals. Also, keep in mind not crossing 14950 spot Nifty will grind to 14000 spot Nifty levels mentioned but we would recommend avoiding Nifty for the time being as there are other trending counters available for short selling.
It will be prudent to sell counters that are already in a downtrend rather than looking to sell sideways counters like Nifty Futures for now. Buying Put options won’t work as fall overall will be in a grinding manner so time value erosion will be very heavy on the Put buying side and margins on-call selling side will be extremely heavy for most traders so that would not be feasible trade.
Nifty Chart is shown below I have marked the resistance and support area momentum breakout on either side is needed in the short term for any good trade set up to be activated here in Nifty
Bank Nifty Prediction for tomorrow
Bank Nifty and most of its components remain in a downtrend once the pullback is done we should see Bank Nifty heading lower so until and unless we see Bank Nifty stable above 33000 spot level area we don’t see Bank Nifty making money on the buying side. At appropriate resistance zones, this is a sell on rise with strict stop loss
Overall looking at the entire scenario it will be prudent to only look at individual counters and look to sell where clear downtrends are going on and look to buy wherever clear up trends are going on. Gold and silver are looking very good and we continue holding longs in them for the time being we see a near term bottom is already in place and an overall uptrend to continue in Gold and silver in the near term.
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. In case you would like to have a free trial of our services please click here