Nifty Today’s Trend, Prediction, View, Target 27th Nov
Nifty Today’s trend was choppy in the first half but towards the second half Nifty zoomed higher in line with my prediction, view and closed at the high point of the day. As per my Nifty trend analysis, prediction, view we remain of the view that we should see higher targets but there could be some choppiness in the move like we did see today so the Nifty trend can be summed up as choppiness with bullishness in the near term. Regular readers of this website are well aware that few weeks back we had mentioned that some of the FII’s will change their India stance and Morgan Stanley has upped its India rating to BUY so we do expect FII money to start pouring in the Indian stock market we also expect the MSCI adjustments to allocate more capital to India and hence there will be good decent capital flows in the Indian stock market in the coming days at least from the FII’s . The PMS funds will also follow suit and since most of them are sitting on cash they will be forced to deploy fairly quickly but there could be a upside spike around the RBI meeting on account of CRR rate cut that could take place so all and all the trend remains up for the time being.
Crude Oil has been falling as per our prediction and view. We do not see crude oil moving higher but surely there will be some pullbacks from time to time they will be eventually become lower tops so the chart structure is very clear and we will keep seeing overall a down trend in crude oil.
USDINR did meet our lower revised targets of 70.30 today and now it will be very interesting to see if the RBI steps in and starts buying dollars from the market what we hear is that they did some buying today in the first half of trade around 70.30 today but what they do will be critical to see.
Good Trading To You!