SGX Nifty Futures
(Change Vs Today’s Nifty Futures (NSE) Closing)
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Nifty Futures 10th Jan 2017
Nifty Futures / SGX Nifty has been trading in a range of 8300-7900 for the past few trading days. As per our analysis we once again reiterate that near term we do not see any significant downside but in the longer term we see that markets will eventually fall towards the final target of 5872 but keep in mind that we could still see some good up move even from current levels before that downside move starts so selling now or exiting portfolio around current prices is not recommended as per our analysis.
Sugar will continue to do very well in the next few months and we reiterate that Renuka Ugar and Bajaj Hind will do very well in the coming time. We see that sugar will perform very well despite the overall negative markets so please keep that in mind. Sugar and the broader markets will not remain connected starting in a few days so although sugar will continue to move higher we could see a totally different trend in the broader market. Please do not look at Nifty charts and compare them to sugar. Please look at sugar in isolation and not in conjunction to the broader markets.
Silver will also do very well in the coming time and on dips we will be buying silver as we see good returns in the coming time. We do expect silver to outperform Gold in this year so if you are a trader seeking higher returns then silver is the metal to watch out for. Gold will do well but silver will do better than Gold in this year. We will tell our clients when to buy Silver as we still see a possibility of minor downside in silver and Gold from current prices.
Crude Oil has performed very well and regular readers and clients of this website are well aware that we have been very bullish on crude oil since 28$/bbl and we do not expect any major weakness in Crude oil in the near term. Any sharp drop in crude will be a good buying opportunity but buying must be done in a staggered manner and at appropriate points please keep that in mind.
Overall we do not see that 2017 will be good for stocks but what everyone is expecting that the fall will begin immediately I do not see that for now before that fall begins we could possibly see some good moves and even stunning moves on the higher side and then the fall will begin. The way the sentiment and the overall market is positioned as of today I do not see that the fall will start anytime soon so until most bears are forced to think twice I do not see the start of a fresh mandi cycle. Also keep in mind that though there could be a stunning move on the higher side the higher side prices also will not sustain for longer duration and sharp reversal will be seen from higher side very quickly. If you are trading only on the basis of this post please use appropriate risk management and then only trade. We have shared our view and we may take trades even contrary to our view for the purpose of tactical trading. Please keep your risk in check and then only trade.
Good Trading To You and have a great 2017.