Nifty Prediction for 8th Oct 2021

Nifty Prediction Nifty has significant resistance around 18000-18250. Profit booking is expected on the higher side. Broadly Nifty will remain sideways as per our analysis.


Broad trading range 18000/18250---17420-17500

Strategy reduce trading/investment longs on rise, reduce equity-based MF’s and move to balanced or liquid funds based on personal risk profile.


Broad trading range 18000/18250---17420-17500


Strategy reduce trading/investment longs on rise, reduce equity-based MF’s and move to balanced or liquid funds based on personal risk profile.


RBI Policy Update Expectations

Oil prices are a concern

Decent pick up in the economy

Will be watchful on inflation


Nifty Prediction and commentary

Nifty is now in an important area. Overall Nifty looks heavy and a drop or a broad trading range is expected and strategy should be to go light on longs and in panic we will buy the beaten-down names again. Nifty Chart link is given here


https://www.tradingview.com/x/gXHKzeet/


Avoid buying over prices high-quality stocks. Valuations in some stocks have gone through the roof and do not warrant a buy on dips. The value part of the market especially PSU stocks in the mining segment looks well placed to be purchased on panics and dips.

Avoid Banks and PSU Banks. Charts as of now don’t look great there.

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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.

Nifty Prediction


Regards,

Glen Drago

95 6316 6316

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