Nifty Prediction for tomorrow & Nifty view 22nd April 2021 Nifty as we have predicted pullbacks keep coming from lower levels however the trend is still down and nifty trading view is to sell at appropriate resistance and keep booking profits at the lower end
As we have mentioned in our previous update that overall Nifty is extremely choppy and there is no clear trading opportunity here with good risk-reward so it will be prudent to focus on stocks or counters that are already in a trending move so be it in a clear uptrend like Gold and silver where we did make good money or some other stocks where we are in a clear downtrend like banks which we will discuss a bit later in this post.
Overall as per my analysis Nifty strategy is to sell on the rise at appropriate resistance with strict stop loss and keep covering lower better still will be to buy gold and silver on dips at appropriate supports because Gold and Silver are about to see a great time cycle support in the next few months especially after 23rd May silver will do very well but accumulation must be done now on dips at appropriate supports with strict stop loss.
Nifty Chart is enclosed below and I have marked the resistance area till this resistance area holds Nifty won’t be able to sustain higher however it does not imply that we can short sell in a panic because regular pullbacks will keep coming from the lower end.
Bank Nifty prediction for tomorrow
Bank Nifty is also in a downtrend and some components of Bank Nifty are weaker than Bank nifty so on rise these are better short-selling candidates than even selling bank nifty so overall till Bank Nifty does not move above 33000 spot level this is also a sell on rise at resistance with strict stop loss only.
Nifty tips which were given to our clients during live market hours on whatsapp
[13:41, 4/16/2021] Glen Drago: Asian Paints Sell in 2 Parts Sell 1 Part at cmp
[13:41, 4/16/2021] Glen Drago: confirmation Asian Paints sold 1 part at 2688 spot level mentioned
[15:16, 4/16/2021] Glen Drago: Asian Paints book profit at cmp 2664 [14:54, 4/19/2021] Glen Drago: Gold revise sl to 47000 for buy done at 46800 and continue holding rem 50% longs of part 1 as told trend remains up here on dips at supports we will add
[14:55, 4/19/2021] Glen Drago: Silver revise sl to 68000 for buy done at 67700 and continue holding rem 50% longs of part1 trend here too remains up and on dips at supports we will add longs here [17:45, 4/19/2021] Glen Drago: Book profit in gold and silver for now
[17:45, 4/19/2021] Glen Drago: Confirmation booked full profits in gold and silver fully for now
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.