Nifty Prediction Today: Global Chip Rally Will Propell NIFTY

Morning Brief:

(1) Nifty came within kissing distance from 25000 mark on 29th July and since then it has been consolidating within a 200 points range.

(2) Yesterday US Market performed well with Nasdaq Composite index clocking more than 2.64% gain while SP500 also gained 1.58% led by Chip stocks.

(3) There is also a hint of rates cuts in USA by Jeromy Powel.

(4) Consistent inflow of money in Indian market is likely to continue today.

(5) FIIs+DIIs hold about 36% Long and about same Short positions in Index Futures.

(6) On 15 min time Frame Nifty Chart, Option Scalper's Buy Signal has already triggered on the last candle of Yesterday (see chart above) as the last signal was Buy and price has gone above the consolidation zone.
(7) If there is huge gap up opening today, wait for the price to come inside the cloud and slowly go above before you take your long positions. In case of flat or gap down, or marginal gap up opening, take long positions and hold your trade till price does not come inside the cloud.

Happy Trading.