Nifty trend today / Nifty prediction today 20th Feb 19
Nifty trend today was bearish however during intraday trade we did see break of the trading range that is in place for the past few trading months. Based on my Nifty trend analysis / Nifty prediction the range of 10600-11000 that has been in place has been broken during intraday trade but there were no volumes and hence Nifty once again moved back into the trading range and the range as of now holds so till the area of 10600 does not break with heavy volumes do not consider that the breakdown has happened. There is a strong possibility of a false breakdown taking place below 10600 so be alert for that and hence we are saying that till the time 10600 is not broken with heavy volumes and some other technical criteria is not completed do not assume that the trading range has broken down. The general trading sentiment is that Nifty is now heading for lower targets of 10200 and most of the market has positioned itself for lower targets of 10000-10200 however we would say that watch out for all parameters before you aggressively short sell this market keep in mind that Nifty could well do the same think like it did at around 11000 gave a false breakout created a bull trap and then moved lower and that happened because there were no volumes and the were some severe divergences that occurred in the Nifty charts while that breakout was taking place at that point in time the sentiment was very bullish and now at the lower end the sentiment is very bearish so keep the secondary parameters in check before you go aggressively short on the Nifty.
As we have been guiding that despite what Nifty does there is some deep value in the broader market not the entire Indian stock market but surely selectively there is value and deep value is present for sure we have been accumulating the deep value stocks and we see these set of stocks delivering excellent returns in the time to come. Within this calendar year we will not be surprised to see those stocks giving us 30-50% returns so look for deep value and buy into them because there is deep value in some select names and regardless of where the Nifty goes the deep value stocks will give excellent returns.
If you are only trading on the basis of this post please use your own risk management and trade please do not over trade and always keep your risk in check before trading.
Good trading to you!