Nifty Tomorrow: Prediction, outlook and Trend for 15th Apr 2021

Medium Term Trend:  👈👉Sideways (Changes to up above 15200 & down below 14300)

Nifty @ 14504 UP 195 points  - Nifty turning Volatile

Nifty open flattish and after threatening to go down below 14300 levels, made a swift recovery in the end and closed at 14500 levels. This has come after losing 500 points in previous session ( black Monday) which raises the question if the bounce we are seeing is just a dead cat bounce.

In the previous post we had discussed about two possibilities and had mentioned that if  the second scenario is playing out then"...……….. market should open another leg(E) which could again take market down to 14500 (or lower) levels". further we had mentioned that "if its the second scenario, then we could see some weakness in next few trading sessions accompanied by some sharp fall"

We did see some sharp fall ( sharper than anyone could have imagined) on Monday but the overall movement remains on expected lines. Nifty is still holding on to 14250-14300 levels which means bulls are not out of picture. Yesterday fall was driven by panic and often bottoms are made during panic. Rising corona cases are leading traders to believe a repeat of Mar 2020 which as per us is very far fetched thought ( atleast as of now). Infact such a a sharp fall could lead market to move up with same force (aided by short covering and value buying). Remember we had also said that doesnt matter which scenario is playing out, the overall trend is likely to break on the upside and nothing has changed even now(even after a 500 point fall).

Nifty Daily

Now we have spend around 38 trading session in consolidation/sideways correction and surely not much time is remaining for this consolidation to get over. Market cant remain like this forever. In our experience, we have seen often seen consolidation period ranging from 30-40 days (generally speaking though it can extend as well). We had shared this data in the beginning of March itself.

Moving forward market has a good resistance in 14650-14800 levels (gapdown area of Monday) and if the pull back we witness today is just a dead cat bounce then Nifty should not move above this area and crash below 14300 again. A move below 14250-300 could mean that something else is brewing in markets which needs to be re-analysed later. Trading wise, we had exited our long position on Thursday/Friday around 14800 & 14900 levels and now adopting a wait and watch approach. Fresh trading call will be taken and shared soon.


In Summary, overall consolidation pattern continues, for a bullish move to begin look for a successful crossover above B-D line (chart above). On the other hand a break below 14250 ( 2 consecutive close) levels could mean the entire corrective pattern is now beginning to take shape as a impulsive pattern which will be a bad news for Bulls.


Trade accordingly.

Happy Trading!

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