Nifty Prediction Sell Nifty on reversal confirmation

Nifty Prediction Sell Nifty on reversal confirmation for target of 9511 accumulate gold and silver on dips for 64000 and 91000

So while many have been asking me for the reason of the fall to begin here is an update on that. I am saying reasons will come out in the open public domain at a later stage but for now, let us assume that this will be one of the leading reasons for the fall and that is rising interest rates. Everyone on the Indian stock market is assuming that rates will remain lower and possibly RBI may even do yet another rate cut however we have been saying that Inflation has been rising and has been around the 7% mark for the past few months and now Indian bond yields have started to move towards 6.30 post a breakout which has happened over the past few trading days so if the bond yields do move higher towards 6.30 initially and eventually higher this will end the cheap money game for the Indian stock markets. This bottom formation of interest rates is being seen globally which means bond yields globally are now made a bottom and about to move higher some have already started moving like Indian bond yields and others will follow eventually but the point is that if rates start to rise this will put pressure on the risk on markets like the stock market and risk-off trades will do well and that is the reason we have once again initiated buying silver at 61000 and we will add more on dips. Yes, we bought silver at 33-38K got out at 76K area and now are reentering for 91000 even gold we see is now heading for 64000 so overall we are seeing a risk-off environment playing out over the next few months. Please keep in mind that we will only sell on reversal confirmation in Nifty and as of now we do not have a reversal confirmation and as of now though my view is negative and bearish for Nifty targets of 9511 we are not yet short however since we have seen breakouts in gold and silver we did buy gold and silver respectively at the start of the month.

Part of what we did

[22:38, 11/24/2020] Glen Drago: Gold nearing support zone. Please click on the link for the chart. Holding 47000 we see Gold heading back towards 57000-64000

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

Silver nearing support zone Please click on the link for the chart. Holding 48000 we see Silver heading for 91000

https://www.tradingview.com/x/sPi3XJpq/

[21:20, 12/1/2020] Glen Drago: Gold has held our support zone of 47000 and is now heading towards 64000 so on dips accumulate gold. Silver also is looking like has turned up on any dips now accumulate and hold we see 91000 in silver over the next few months. Although it is possible to see some more dip and the last panic round is still possible we won’t now recommend waiting for that panic so buy on dips in a staggered manner should be done in gold and silver for targets mentioned.

[21:21, 12/1/2020] Glen Drago: Can initiate buying in a staggered manner in gold and silver

[21:23, 12/1/2020] Glen Drago: keep in mind please do not go all in as there is still a possibility of some downside or near term last round panic move so on dips and panic will will add

[24:44, 12/2/2020] Glen Drago: Gold is heading for 64000 and silver is heading for 91000. Use all dips to accumulate longs here and hold. If any dips or sharp declines do come they will be a good buying opportunities.

[09:11, 12/2/2020] Glen Drago: Good morning

[09:11, 12/2/2020] Glen Drago: No open positions in Nifty for now

[09:11, 12/2/2020] Glen Drago: Will update as and when anything needs to be done

[09:12, 12/2/2020] Glen Drago: Silver, gold accumulate on dips in a staggered manner

[14:59, 12/2/2020] Glen Drago: No sign of any reversal in Nifty yet

[14:59, 12/2/2020] Glen Drago: silver, gold hold longs for targets mentioned. don’t look to chase price now. on dips, if comes look to accumulate.

[13:11, 12/3/2020] Glen Drago: Silver hold longs as told for 91000

[13:11, 12/3/2020] Glen Drago: Gold hold longs for 64000 as told

[13:12, 12/3/2020] Glen Drago: On dips and panic if comes  we will buy more

[13:12, 12/3/2020] Glen Drago: Nifty still no sign of reversal so be on sidelines

[13:12, 12/3/2020] Glen Drago: Will update as and when anything needs to be done

[11:40, 12/8/2020] Glen Drago: Nifty Sell at cmp

[11:40, 12/8/2020] Glen Drago: Keep SL 13396 spot levels mentioned

[12:16, 12/8/2020] Glen Drago: Book 50% in Nifty at cmp

[12:16, 12/8/2020] Glen Drago: Trail remaining qty to 13396 spot level

[12:16, 12/8/2020] Glen Drago: Nifty not coming down with speed don’t have any confirmation yet

[12:57, 12/8/2020] Glen Drago: 13396 spot trailing SL for remaining qty nifty

[13:13, 12/8/2020] Glen Drago: Close remaining nifty at cmp

[13:14, 12/8/2020] Glen Drago: Not yet turned down we will have to wait till we get reversal

[20:24, 12/8/2020] Glen Drago: Silver gold hold longs as told.

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 at all times. Nifty is in a euphoric phase and such euphoria has last been seen in 1992, 2000, and 2008 all of which we know have ended very badly for bulls so extreme caution is advised.

Regards,

Glen Drago

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