Nifty Today’s Trend, Prediction, View, Target 9th Oct
Nifty Futures today moved perfectly in line with our expectations. IN the morning we had mentioned that we see Nifty will be in the range of 10400-10200 for today and Nifty exactly moved as per our prediction, view. Even Indian Rupee was moving perfectly moving as per our estimates. We once again reiterate our view, prediction on the Indian rupee that in the near term upper side targets are done and we do not expect much more depreciation from 74 levels in the near term. We have initiated carry trades keeping a view of next 2-3 months in Indian rupee so our view for the Rupee is that we see it consolidating between 74-71 for the next few months. As far as crude oil is also concerned we had mentioned that though longer term we could see some more upside but bulk of the upside is done in crude oil and now we do not expect upper side pressure from crude oil so keep that in mind. I am not saying that final upside in crude is done but near term upsides are in place so both these factors which were a head wind now will start acting as a tail wind for the Nifty only in the near term.
Nifty our view and strategy is now changed to hunting for stock specific value buying. So we did initiate value buying in some multi baggers which as per our view will give us anywhere between 70-130% returns in the next one year’s time. Details of them we will share later.
Good Trading To You!