Nifty Prediction for tomorrow, Nifty view 28th April 2021

Nifty Prediction for tomorrow, Nifty view 28th April 2021 Nifty remains broadly in a trading range resistance is at 14930 and support is at 14000-13800 spot levels mentioned.

Overall Nifty remains broadly in a sideways range. Generally, option buying does not make money in such phases of the market so be very careful here. In our previous updates, we had clearly mentioned that avoid short selling as nifty is near important support zones and that prediction has worked very well.

There are some stock-specific trades that look better than trading Nifty for the moment which are having good up trends so we did trade long in Jsw steel and booked profits there. Chat transcript for the same is available in our yesterday’s update. Click here to view that. The same strategy should be applied to stocks that are in proper trending move. For now, trading Nifty is best avoidable. I personally do not like to trade instruments that have massive overlapping and for now Nifty is overlapping and sideways. Bets to avoid Nifty for now till we do not see a trading range breakout on either side.

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

Bank Nifty Prediction for tomorrow 

Bank Nifty has resistance around 33000 spot levels mentioned. Till this area holds trend remains sideways breakout with volume above 33000 then we will consider what to do here. As mentioned in our previous updates Icici Bank overall looks better structure to trade than Bank Nifty. Icici Bank however must be bought only on bank nifty breakout confirmation at a high-quality support zone with strict stop loss.

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.

Regards,

Glen Drago

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