Nifty Prediction Resistance at 18700

Nifty Prediction for 21st Oct 2021 Nifty Prediction Nifty has significant resistance around 18600-18700. Profit booking is expected on the higher side. Broadly Nifty will remain sideways as per our analysis.


Broad trading/consolidation range 18700---17250

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

Nifty Trend

Sideways

Resistance

18700

Support

17900

Bank Nifty Trend

UP

Support

38500

Resistance

40200

Bank Nifty Prediction

Switch exposure to banks. On dips look to accumulate HDFC Bank, Icici Bank, Sbin, Canara Bank these look all set for 37% returns over the next few months. On every dip these can be bought and traded and we will take entry here and hold.


Nifty Prediction and commentary

Nifty broadly will remain sideways and look to consolidate. There will be select pockets that will do well so we see banks doing well. The top four names I have mentioned.

PSU space also looks good and can be accumulated on dips. NMDC, Nalco. Reality on sharp panics is a buy. Revise upside medium-term target for Nifty to 20430 however near term we can see a pullback in Nifty or broad consolidation so on the index damage won't be much visible however individual names especially mid-caps and small caps will take a big hit so exit those small caps and mid-caps and look to get into high-quality banks, PSU’s and reality in panic.


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.


Regards,

Glen Drago

95 6316 6316

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