Nifty Prediction for tomorrow 19th May 2021

Nifty Prediction for tomorrow 19th May 2021 Nifty is now at the upper end of the trading range. Breakout with volumes needed for any fresh long positions to be taken.

Nifty has been sideways within the trading range. However, as of now, it is at the upper end of the trading range. Time and again we have seen Nifty not breaking above this range. So keep in mind until we see a breakout above this area with volumes avoid buying fresh. Those who are holding longs keep strict trailing stop loss and hold longs.

Nifty Prediction for tomorrow

Nifty Prediction for tomorrow


The nifty Chart is enclosed below. Unless Nifty has a strong breakout above today’s high with volumes avoid taking fresh longs.

Bank Nifty Prediction for tomorrow

Bank Nifty also has to give a clear breakout with volumes above today’s high to continue higher. If this does not happen then-current move could be another bull trap. Traders who are long must keep this in mind. Avoid getting carried away and look at the situation totally analytically.

Nifty Prediction 2021

In all this news flow most market participants have forgotten the WPI numbers that have come out. WPI numbers are at an 11 year high. Maybe even a record high.  We have been predicting that we are heading for hyperinflation. So hyperinflation will be first and then that would lead to stagflation. Overall inflation is about to move higher very rapidly. All the money that went into equities and commodities is now going to move towards agricultural commodities.  

This will lead to EPS cuts. The top line will be under pressure and so will the bottom line. In this scenario, we see upside capped and downside risk open. Not to mention that the current pandemic is still to be taken care of. As of now, liquidity is keeping markets afloat however the situation is very dynamic so watch out. 

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. 

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Regards,

Glen Drago

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