Nifty trend today / Nifty prediction today 13th Feb 19
Nifty trend today continued to be sideways perfectly along expected and predicted lines. Regular readers of this website are well aware that we have been predicting sideways trend for Nifty since past few weeks and we have been saying that based on my Nifty trend analysis / Nifty prediction we do not see any meaningful trade to be done in Nifty till the time Nifty does not breach the range of 11000-10600 with higher than average volumes so in between this trading range there will be days when Nifty will rally a few hundred points and there will be days when Nifty falls a few hundred points but that movement for one or two trading days is absolutely worthless till the time there is a range breakout above 11000 with heavy volumes or below 10600 again with heavy volumes so till the time range does not break it will be prudent to look into stocks again if you are a trader look for trending counters and if you are an investor then look for deep value stocks. When we say deep value keep in mind we don’t mean that stocks that have fallen by 70-80% from the top there are some stocks where the management is good, there is no debt, earnings have bottomed and there is good earnings visibility in those companies in such companies investors can look to be buyers on dips and accumulate in a staggered manner because if there is a panic which is possible then you should keep adding to your portfolio but keep in mind that there are just a few companies that fit this criteria as of now. We don’t see that the entire market per say or the broader stock market is at deep value zone as of now but at the same time there are a few select stocks which are at deep value where the downside even assuming there is a panic in the Indian stock market will not make much of a difference.
Outside of the Nifty there are some good trading opportunities which are available so it will be better to focus on them than trying to trade Nifty or for that matter even the Bank Nifty because even Bank Nifty is sideways and we don’t see either side range breakout taking place easily in the background where there are no events or immediate triggers for the Indian stock market.
Good Trading To you!