Nifty Prediction 22 Oct ’20

Nifty Prediction Nifty topped exactly at our predicted zone and reversed lower. Overall choppy moves will continue for the next few days.

Part of what we did today

[09:40, 10/21/2020] Glen Drago: Good morning
[09:40, 10/21/2020] Glen Drago: Wait for update
[09:46, 10/21/2020] Glen Drago: Hold 1 Part short in Nifty
[09:46, 10/21/2020] Glen Drago: Wait to sell 2nd part
[10:11, 10/21/2020] Glen Drago: Mercury retrograde today is 4th day of pullback whatever is today’s high should be protected another part is that we are in a massive resistance zone of 12000 to 12246 spot level
[10:12, 10/21/2020] Glen Drago: So hold 1 Part for now
[10:12, 10/21/2020] Glen Drago: Will update if we have to do anything
[10:43, 10/21/2020] Glen Drago: https://www.tradingview.com/x/Ng5thcWi/
[10:45, 10/21/2020] Glen Drago: area marked in red is the resistance area not crossing this are we should move lower to 9511 and then 8200
[12:25, 10/21/2020] Glen Drago: Towards eod we will sell 2nd part if deemed fit
[12:40, 10/21/2020] Glen Drago: Nifty Sell 2nd part with 12122 SL spot level
[12:41, 10/21/2020] Glen Drago: Correction 12022 SL for 2nd part
[12:41, 10/21/2020] Glen Drago: If crosses 12022 we will sell at eod at 3.28 as I don’t see upside sustaining and there is a possibility of gap down keeping in line with Mercury retrograde game
[12:43, 10/21/2020] Glen Drago: Hold part 1 as told
[12:44, 10/21/2020] Glen Drago: Hope message is clear keep SL of 12022 spot for 2nd part if 12022 spot is crossed we will exit 2nd part and then sell again at 3. 28 pm whatever is the price as Mercury retrograde period will create sudden sharp moves originating out of nowhere and also we are at the resistance zone
[12:44, 10/21/2020] Glen Drago: Please dont over trade
[12:45, 10/21/2020] Glen Drago: There is a possibility that entire up move from 7511 is ending and 9511 move could begin from here
[12:46, 10/21/2020] Glen Drago: Silver wait for 55000 to be breached we will buy below 55000 ideally around 5300p for 91000
[12:46, 10/21/2020] Glen Drago: Around 53000 for 91000 ideally buy in physical

Move from 53000 to 91000 should take about 3 months
[13:29, 10/21/2020] Glen Drago: Hold 2 parts Nifty 12005 & 11870 spot level will update as and when anything needs to be done
[13:29, 10/21/2020] Glen Drago: move now for 9511 or 11300 that we will see
[13:34, 10/21/2020] Glen Drago: nifty displaying perfect mercury retrograde systems as expected sudden moves came out of no where
[13:37, 10/21/2020] Glen Drago: break of 11782 Fut before 2.30 will take Nifty to 11701 today
[13:37, 10/21/2020] Glen Drago: please dont over trade
[14:03, 10/21/2020] Glen Drago: 11782 to watch now if that’s taken out before 2.30 pm another round down to 11701 today spot levels
[14:03, 10/21/2020] Glen Drago: dont over trade please
[14:04, 10/21/2020] Glen Drago: just hold 2 parts that we have sold
[14:20, 10/21/2020] Glen Drago: Nifty book 2nd part short done at 12005
[14:21, 10/21/2020] Glen Drago: Hold Nifty 1 Part short done at 11870
[14:21, 10/21/2020] Glen Drago: Confirmation Nifty 2nd part booked at 11791 for shorts done at 12005
[14:21, 10/21/2020] Glen Drago: Hold Nifty 1 Part short done at 11870 spot level
[14:22, 10/21/2020] Glen Drago: On rise we will sell again don’t see upside sustaining however sudden moves can originate out of no where and hence better to take some money off the table

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

Good trading to you

Regards,

Glen Drago