Nifty Prediction although trend remains up it will be prudent to keep taking money off the table from a near term perspective and redeploy towards second half of the year in panic.
During the end of March we were very vocal in saying to buy aggressively into the Indian stock market and it is well known that we were predicting Nifty to come towards levels of 10000 broadly speaking and we were predicting that because all the major systems that we use which include Elliot wave, Gann wave, time cycles as well as astrological cycles all were pointing out towards a bullish time and price combination for the period from starting of April for a few weeks so some of you may call it a pullback rally or some may call it a dead cat bounce or whatever you may want to label it that does not matter but the broad point is that there were positive cycles from near term perspective that were telling us that there is a high probability trade available on the long side and that trade has played out very well.
Now, going forward you will need to understand that longer term we remain extremely bullish and that we are predicting a Nifty target of 23856 by 2024 so if you are taking a view for 2024 then on any panic it will be a prudent thing to buy high quality names and hold in delivery however if near term volatility can rattle you or you would like to take a few tactical trades then taking money off the table on rise towards higher sides will be a good idea we say this because most of the easy money that had to be made from lower levels is done for the time being so even though longer term we remain very bullish on Dmart yet we have taken some money off the table for near term tactical trading so keep this in mind that longer term bullish view remains absolutely intact but near term for the next few months we could still some pain and that could be some sort of downsides in the next few months as in the second half of the year astrological cycles and time cycles are suggesting that we could see some more downside so it will be a good strategy to take some money off the table now move to short term fixed income and then come back and buy into the panic. The key point here would be to buy high quality with positive cash flow and having a good management these combinations must be present for stock to do well in the coming quarters. Buying must only be done in absolute high quality and avoid a valuation trap that is present in most of the stocks look at buying companies in second half of the year where growth more or less will remain unaffected.
Near term Nifty and the world stock markets have shown irrational exuberance perfectly like that we have seen in past few years and that could quickly turn into mass hysteria as cycles begin to change 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 please always keep your risk in check.