Nifty Prediction 9-4-2021

Nifty Prediction for tomorrow overall Nifty is sideways and can be shorted in euphoria and bought in panics at appropriate resistance and support zones.

Near term, there is no clear trending move on either bullish or bearish side which is available in Nifty so look to just trade in and out and be very nimble-footed and trade. There are better trending opportunities available in Gold and Silver where we have gone long and made excellent money with very low risk so overall the outlook continues to look for clear trending opportunities that may be on either side and take low-risk entries and book partially at regular intervals. The markets as of now are not a buy and hold or short and hold phase from a trading perspective because there are numerous things divergent for e.g. generally and not as a rule but generally whenever usdinr is in a clear depreciating mode like it is now it is safe to predict that Nifty will be in a downtrend and generally and once again not as a rule whenever s&p500 is in an uptrend it is safe to predict that Nifty also will be in an uptrend however the current situation is a combination of both. 

This situation has happened in the past but is very rare to see whereby usdinr is moving higher towards a target of 78 and maybe even 81 and at the same time S&P 500 has support zones nearby and is in a near term uptrend so the combination of both these factors which have been historically time tested are indicating absolutely divergent things and when we look at Nifty charts in isolation Nifty is broadly sideways in an expanding sort of a range 

Bank Nifty Prediction for tomorrow 

Bank Nifty and most and again I say most of Bank Nifty components are in a downtrend so if you are long here look to reduce longs and on the rise, at appropriate levels, you may also consider short selling however with a very strict stop loss. 

Synopsis of what we did

We bought silver at around 66100 booked 50% at 66300 and the rest we booked today at around 67000

Tata consumer we bought at 664 and booked at 672 

chat transcripts as sent to clients is given below

[09:25, 4/7/2021] Glen Drago: good morning

[09:26, 4/7/2021] Glen Drago: Gold Buy 1 part at 45560 & 2nd part at 45440 sl 45400

[09:27, 4/7/2021] Glen Drago: silver buy at 65360 & 65000 sl 64900

[10:12, 4/7/2021] Glen Drago: Wait on sidelines for now

[10:12, 4/7/2021] Glen Drago: Will update as and when anything needs to be done

[12:25, 4/7/2021] Glen Drago: silver buy at 66228 sl 66100 May Fut levels mentioned

[12:40, 4/7/2021] Glen Drago: Tata consumer buy at cmp

[12:40, 4/7/2021] Glen Drago: confirmation bought at 664

[12:40, 4/7/2021] Glen Drago: confirmation tata consumer bought at 664 spot levels mentioned

[13:00, 4/7/2021] Glen Drago: Add 2nd part Tata consumer at 659 spot level keep SL of 652 for both parts

[13:12, 4/7/2021] Glen Drago: silver buy at cmp 100 rs sl

[13:13, 4/7/2021] Glen Drago: confirmation silver bought at 66210 sl 66100 take 100rs risk here

[13:13, 4/7/2021] Glen Drago: silver trend has turned up again we will try to enter this wherever we can get small risk points

[13:14, 4/7/2021] Glen Drago: please do not over trade

[13:15, 4/7/2021] Glen Drago: those who want to buy for short term delivery can accumulate gold as well as silver

[13:16, 4/7/2021] Glen Drago: silver book 50% profit at 66350 (prefeed) and trail rem to cost and hold

[13:18, 4/7/2021] Glen Drago: trading call Gold 46050 buy sl 45900 if comes there then only we buy

[13:19, 4/7/2021] Glen Drago: silver book 50% at 66300 once and keep trail to cost now

[13:20, 4/7/2021] Glen Drago: confirmation silver booked 50% at 66300 once now trail rem to 66200 and hold

[13:27, 4/7/2021] Glen Drago: Hold silver rem 50% qty with 66200 as sl now

[13:42, 4/7/2021] Glen Drago: silver buy again at cmp

[13:42, 4/7/2021] Glen Drago: confirmation silver bought at 66100

[13:44, 4/7/2021] Glen Drago: silver buy 2nd part if comes to 65850 sl 65790

[13:48, 4/7/2021] Glen Drago: silver hold 1 part long if comes to 65850 add 2nd part with 65790 sl

[13:48, 4/7/2021] Glen Drago: tata consumer hold 1 part bought at 664 spot level mentioned

[13:49, 4/7/2021] Glen Drago: Nifty too choppy to trade for now

[14:31, 4/7/2021] Glen Drago: tata consumer book 50% at 669 spot and trail rem qty to 664 / cost

[14:34, 4/7/2021] Glen Drago: confirmation tata consumer booked 50% at 669 trail rem 50% qty to cost/664 and hold

[15:27, 4/7/2021] Glen Drago: Hold Tata consumer rem 50 percent qty longs

[15:27, 4/7/2021] Glen Drago: Hold silver longs

[15:27, 4/7/2021] Glen Drago: Silver book 50 percent at 66300 for buy done at 66100 and trail remaining qty to cost and hold

[15:28, 4/7/2021] Glen Drago: Confirmation silver booked 50 percent at cmp and trail remaining qty to cost and hold

[15:35, 4/7/2021] Glen Drago: Silvers chart is very similar to bank nifty the other day when I was constantly looking to short Bank Nifty

So I see silver having a high probability up move and hence we will keep taking chances at low risk areas to buy at same time controlling our risk

[17:15, 4/7/2021] Glen Drago: Silver hold remaining 50% longs with 65790 SL for net but at 65900

[09:05, 4/8/2021] Glen Drago: Good morning

[09:05, 4/8/2021] Glen Drago: Silver hold remaining 50% longs with 65790 SL for net but at 65900

[09:06, 4/8/2021] Glen Drago: Nifty wait for fresh signal to trade

[09:20, 4/8/2021] Glen Drago: Hold Tata consumer rem 50 percent qty longs bought at 664 spot level mentioned

[10:47, 4/8/2021] Glen Drago: Gold Buy at 46212 & 46100 sl 46050

[11:16, 4/8/2021] Glen Drago: Silver Malllavvvv

[14:22, 4/8/2021] Glen Drago: breakout in usdinr is looking dangerous for equities as a whole. usdinr is heading for 78 and then maybe even 81 but from a near term perspective we need to see breakdown for shorting which is not present

[14:32, 4/8/2021] Glen Drago: close longs in tata con

[14:32, 4/8/2021] Glen Drago: confirmation no open positions now

[14:32, 4/8/2021] Glen Drago: Silver hold remaining 50% longs

[14:38, 4/8/2021] Glen Drago: those long in gold can book some here

[15:03, 4/8/2021] Glen Drago: Silver hold remaining 50% longs trailing sl 66700 (current month levels mentioned )

[15:05, 4/8/2021] Glen Drago: silver book full profits once

[15:05, 4/8/2021] Glen Drago: we will renter on dips

Warm Regards,

Glen Drago

9563166316

0 views