Nifty Prediction 19th Aug 19
Nifty once again opened lower today and once again bounced back from the support area from lower side however the upsides or the larger bounce back or more specifically the retracement rally of the entire fall has still now not started. Based on my Nifty Prediction and trend analysis we could well see another round of panic bottom formation in the coming days so unless we see 11200 being taken out on the upside if you are buying then keep strict stop losses for your long positions because we could well have a situation on Monday or Tuesday where we could see some sort of a sharp selloff please keep in mind that the dangers get negated only if the level of 11200 spot is taken out till that point in time since the trend still remains down it will be prudent to keep proper stop losses if you are currently on the long side. As far as we are concerned we have not taken any fresh trades for now however from an astrological cycles perspective next 2-3 days could see the bottom formation and then a retracement rally could begin from lower side so once again understand this correctly trend remains down but looking at the overall position on the wave counts and currently as far astro cycles are concerned we could well make a panic bottom low by mid of next week and start the retracement rally so in panic around appropriate levels we could be buying but till the time we don’t get that panic or 11200 is breached it will be a market to be watching very carefully and traders will have to be extremely nimble-footed in the coming few trading days.
From an investors perspective next few days could present some good opportunities purely from a short term investment perspective so do look to buy some of the front line names if you do see blood on the street because as per my prediction though there could be a panic but we do not see the markets sustaining on the lower side for many days and a pullback is due.
Good trading to you!