Nifty Today’s Trend, Prediction, View, Target 16th Oct
Nifty today had a volatile day. Nifty today opened around 10524 and then started a steady fall and made a intraday low of 10400 but once again followed the broader theme of the market and recovered and closed the day near the high point of the trading day. If you closely look at all the intraday charts right from last Wednesday 10th Oct 2018 we can see that though markets went lower for some reason which could have been rupee volatility or crude oil or bad global cues but each day including 10th oct closed the day towards or almost at the high point of that particular day. This is conveying a message that there is good buying demand by value investors or intraday traders at lower levels and hence even if the markets are correcting during intraday the dip is being bought into and eventually markets or Nifty Futures is ending the trading day higher.
As per our trend analysis, prediction, view we do not see much downside in the near term and we expect higher targets (details of the targets have been shared with our clients.) As per our analysis we are of the view that this market currently is in a buy on dips mode from an investors perspective so buying value stocks where there is good or deep value will be a good trade. As we have mentioned that Jupiter also has changed house and if markets continue showing good positive moves then we could see a decent move towards higher targets.
Good Trading To You!