Nifty Prediction Overall trend remains up Buy high quality recommended stocks on dips and traders can buy Nifty on dips at appropriate support levels.
Nifty pullback continues and we expect this rise to continue till the — week of — after that move completes we will review what has to be done but till that point in time we do not see any risk on the higher side. Please keep in mind I am not suggesting for one minute that there wont be pullbacks sure there will be periodic pullbacks but in those pullbacks at appropriate support levels we should be buying for our higher side price and time targets. Many traders are asking us that why the markets are moving higher despite the negative news flow on the lock down and the increase in number of covid 2019 cases (I have purposely written covid 2019 for some astrological reasons). The point is worst has been factored in prices and even though it will take some time for the economy to recover we will still see stock prices moving higher in the near term simple because they have become great value buys and cheap money entering the system so if we look at some of the stocks that we recommended Divis Labs, Abbot India and Nestle were some of the stocks that we recommended in our portfolio to buy and all these 3 stocks are almost at life time highs so the point being that high quality stocks will continue to move higher yes there will be corrections and pullbacks but these set of stocks will be ones to bounce back sharply higher and much ahead of Nifty.
Also, the sharp fall in crude oil prices has lots of benefits for India and both the trade deficit and the fiscal deficit are now under control not to mention sharply lower inflation all these factors make me very bullish on Indian equities form a 4 years perspective so in the year we see Nifty reaching 23800 and these prices are a steal to play that rally. In between this move there will be some great pullbacks also but they must be used to buy stocks and hold.
Good trading to you!