Nifty Prediction for tomorrow, Nifty View 29 April 2021

Nifty Prediction for tomorrow, Nifty View 29 April 2021 Nifty still has not crossed resistance of 14930 spot fresh support zone is now at 14550.

Breakout on either side should create a trending move for Nifty in the near term. Overall positive bias till we hold 14550 spot Nifty. As we have mentioned in our previous updates also do not short sell here. Move above 14930 spot can lead us to a new high or 15250 but for now 14930 and 14550 area boundary walls. On pullbacks till 14550 holds buying on dips can be done however book profits at regular intervals. 

Some specific stocks in banking are looking good so SBI on dips can be bought at good support area. Icici Bank which was looking good on the charts has done very well but we did not trade it as we could get a small stop loss point to buy it. Overall, look at leading counters or stocks that are showing a good trending move and get on a long bias till 14550 spot holds.

Targets for this current move of Nifty can even go towards a new high and I am not ruling that out for the time being. For now, let us just keep track of 14930 once crossed next target should be around 15250 and we will review the situation at 15250

Nifty Prediction for tomorrow
Nifty Prediction for tomorrow

Bank Nifty Prediction for tomorrow

Bank Nifty has crossed the resistance area of 33000 and the trend here is up. On dips towards appropriate support zones, traders can look to go long here with strict stop loss only. Some individual stocks like SBI are looking better than Bank Nifty in the near term so can buy that as should lead the Bank Nifty for a few days.

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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. 

Regards,

Glen Drago

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