Nifty heading for 20400

Nifty Prediction Nifty exactly bounced back from our support zone given last week. We had clearly updated the levels and Nifty precisely honored those levels and has now come to the 17500 area.

Nifty Trend

Broad Trading Range

Support

17300

Resistance

17800-18000

Bank Nifty Trend

Down

Resistance

38300-38000

Support

34050

Nifty Prediction and commentary

Nifty is expected to keep trading in a broad trading range now for the next few weeks however from a medium-term perspective we see Nifty heading for higher levels of 20400 and eventually, even 23856 is possible.


The idea is to accumulate high-quality stocks and create a solid portfolio that should perform very well in the coming time. Our recommended portfolios are up around 10% for this month to date so buying very high-quality names at reasonable valuations is the key.


Part of what we did this week

[14:30, 30/11/2021] Glen Drago: Best Buy in metals is jsw ispat special for delivery. for trading once bottoms are in place will give buy calls

[14:33, 30/11/2021] Glen Drago: market neche nahi tikega worst is done buy on dips should be done

[10:17, 02/12/2021] Glen Drago: A retest of the 16800 area can take place hence avoid initiating fresh longs here.

[10:21, 02/12/2021] Glen Drago: I dont see downside sustaining on dips buying must be done for 20400/23856

[14:43, 02/12/2021] Glen Drago: NMDC Hold longs

[14:43, 02/12/2021] Glen Drago: Pair Trade Nifty 30 Dec Sell 17500 Call & 16600 Put Hold

[13:54, 06/12/2021] Glen Drago: No trend in Nifty. Range bound we will be buying on lower side for again 17500 area. Ideally we should be selling puts on reversal buying calls will not worl

[13:54, 06/12/2021] Glen Drago: buying calls will not work. Idea is to capture time value decay

[15:05, 06/12/2021] Glen Drago: Pair Trade Update Book Profit in 17500 Call shorts and continue to hold 16600 Put shorts

[15:05, 06/12/2021] Glen Drago: confirmation 17500 Call shorts booked

[15:09, 06/12/2021] Glen Drago: confirmation 17500 Call shorts booked at 102

[09:50, 08/12/2021] Glen Drago: NMDC hold rem longs

[09:50, 08/12/2021] Glen Drago: Hold 16600 put shorts

[09:51, 08/12/2021] Glen Drago: DO NOT SHORT SELL MANDI MATT KARO

[09:51, 08/12/2021] Glen Drago: keep focus to accumulate delivery on lower side as we see min of 20400 and also possible to see 23856

[09:52, 08/12/2021] Glen Drago: more than trading this is a time to accumulate high quality stocks on dips and hold for higher targets

[13:50, 08/12/2021] Glen Drago: 16600 put shorts book at cmp

[13:51, 08/12/2021] Glen Drago: confirmation Nifty 30 Dec 16600 Put shorts booked at 58



Nifty Prediction 13-12-2021

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.

Regards,

Glen Drago


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