Nifty Futures Trend, Prediction, View, Target 17th May 18

Nifty Futures Trend, Prediction, View, Target 17th May 18

Nifty Futures today had a volatile day along expected lines. As per our predictions done yesterday we had mentioned that till the swearing in ceremony does not take place in Karnataka there could be some volatility and Indian stock markets / Nifty Futures moved exactly as we were predicting yesterday. Now, what to expect and where do we see the Indian stock markets / Nifty Futures from here onwards.  As per our analysis, view and prediction we see Nifty Futures main trend which is lower will resume and eventually move to much lower side targets from current prices. We have been constantly saying that the best strategy currently is to exit from portfolio longs and sell and be on as much cash as possible if you are an investor and from a traders point of view on any up move like we did see yesterday to sell towards appropriate resistances. From a support point of view we do not see much lower side support in the near future as the move is expected to be fast though may get choppy at times but overall will remain fast on the downside. Please keep in mind that I am not suggesting for one minute that pullbacks and bounce backs will not come during the fall sure they will from time to time but we are not of the view that any sustainable trend will continue and eventually the main trend will resume lower.

Part of what we did yesterday and today.

5/15/18, 9:01 AM – Glen Drago: Gm

5/15/18, 9:01 AM – Glen Drago: We could see some minor volatility

5/15/18, 9:02 AM – Glen Drago: Expect Cong JDS to form Govt in Karnataka

5/15/18, 9:02 AM – Glen Drago: However regardless of election results markets will move lower post the event

5/15/18, 9:02 AM – Glen Drago: Will update as and when anything needs to be done

5/15/18, 9:58 AM – Glen Drago: Regardless of the outcome markets will start falling sharply Post the results

5/15/18, 9:59 AM – Glen Drago: 20 seats net margins of victory will be around 1-2 percent and that will create lot of fluctuations

5/15/18, 10:18 AM – Glen Drago: Stbt sell nifty in 2 parts sell 1st part now at cmp

5/15/18, 10:19 AM – Glen Drago: Confirmation stbt sold 1 part

5/15/18, 1:15 PM – Glen Drago: Will update of anything needs to be done

5/15/18, 1:48 PM – Glen Drago: we have got secondary confirmation of trend reversal awaiting final confirmation. Reiterate the target for this move down will be around spot Nifty levels mentioned and we expect the fall to be very fast. Sit back and let the shorts ride as per our advice. We will be doing some in and out trade only if we see extreme positions or situations or else we would just ride out the entire move

5/15/18, 1:49 PM – Glen Drago: if anything else has to be done will keep updating

5/15/18, 1:49 PM – Glen Drago: as and whenever deemed fit we will take stbt shorts or intraday shorts

5/15/18, 2:20 PM – Glen Drago: keep doing stbt or intraday shorts as told whenever we get clean opportunity we will do the same

5/15/18, 2:33 PM – Glen Drago: As we have been saying regardless of the outcome we expect sell off

5/15/18, 2:33 PM – Glen Drago: Hold positions as told

5/15/18, 3:44 PM – Glen Drago:

5/15/18, 3:45 PM – Glen Drago: If need be I will provide secondary update later in the night or early tomorrow morning

5/15/18, 8:27 PM – Glen Drago: Good Evening Nifty add-on Update

Nifty Strategy from here onwards. As per our analysis we see that the top for this pullback move that started at 9952 has ended. We were anyways expecting around 10650  but the move extended but that is not important now. Going forward starting tomorrow we will be getting into ——  strategy which may also include some stocks. I am not promising but surely if I do see good shorting opportunity in select stocks I will not hesitate to go all out and short them so you can plan your margins accordingly. 

5/16/18, 2:51 PM – Glen Drago: Stbt trade book profit at cmp

5/16/18, 2:51 PM – Glen Drago: Confirmation stbt trade booked


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