My Nifty outlook and strategy
Here’s my trading strategy for the coming days:
#Nifty Support: 23,568.60 (closing basis)
I expect a bounce in Nifty towards the 24,400–24,500 range, which is around 750–800 points from the CMP.
At this level, many retail traders might initiate fresh long positions. However, I plan to book profits or exit at cost and avoid taking new positions here. My focus will be on collecting cash.
Why?
Because when retail traders go long, Nifty may move towards 24,700. After that, it’s likely to see another round of buying from them. But the very next day, the market might hit a high and then drop so sharply that exiting becomes difficult.
At this point, I’ll look for shorting opportunities or trade in options.
Once Nifty retraces back to 23,400 and bounces from there, I’ll create a list of long-term small-cap stocks to invest in. However, I’ll only invest if Nifty closes above 24,888 with good volume. If not, I’ll stay out.
If the market reverses from there, a fall towards 22,300–22,000 is possible. If this happens, I’ll create a new strategy focusing on micro-cap stocks.
Note: This entire strategy is based on technical analysis and past experience. While charts reflect most market behavior, any fundamental shift can invalidate this analysis. If the market doesn’t follow these levels, I’ll revise my strategy accordingly.
#Nifty Support: 23,568.60 (closing basis)
I expect a bounce in Nifty towards the 24,400–24,500 range, which is around 750–800 points from the CMP.
At this level, many retail traders might initiate fresh long positions. However, I plan to book profits or exit at cost and avoid taking new positions here. My focus will be on collecting cash.
Why?
Because when retail traders go long, Nifty may move towards 24,700. After that, it’s likely to see another round of buying from them. But the very next day, the market might hit a high and then drop so sharply that exiting becomes difficult.
At this point, I’ll look for shorting opportunities or trade in options.
Once Nifty retraces back to 23,400 and bounces from there, I’ll create a list of long-term small-cap stocks to invest in. However, I’ll only invest if Nifty closes above 24,888 with good volume. If not, I’ll stay out.
If the market reverses from there, a fall towards 22,300–22,000 is possible. If this happens, I’ll create a new strategy focusing on micro-cap stocks.
Note: This entire strategy is based on technical analysis and past experience. While charts reflect most market behavior, any fundamental shift can invalidate this analysis. If the market doesn’t follow these levels, I’ll revise my strategy accordingly.
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