16 June, 2021 (7:39 am IST)
Indian stock markets have only one goal now, Take Nifty to 16,000. We had started writing about Nifty reaching this level when the index had started its uptrend in May.
This uptrend has been market with gap up opening and rangebound trend which does not give much opportunity to day traders.
Today, SGX Nifty is trading flat, but giving uptrend signals. So, day traders should not wait in the opening hour and wait for a stable trend to emerge in Nifty and broader stock markets.
How To Trade Nifty Today:
- Nifty is only 100 points away from its new record of 16,000.
- Market manipulators will push it to that level.
- Therefore, we’ll not advise day traders to go against Nifty’s uptrend.
- If Nifty falls, trade with that trend and keep an eye on possible reversal from support levels.
- If the index rises after initial volatility, trade with that uptrend.
- If Nifty becomes rangebound then stop trading and leave markets because it will be a narrow range and day traders will only lose their trading capital in this trend.
Indian stock markets are expected to open flat and trade rangebound with volatility. Indian stock market are in an uptrend and have been eating bears for breakfast. In these manipulated markets, don’t expect any fall more than for one session. Stay alert and watchful and follow the uptrend.