Nifty Futures 2nd April 2018
Nifty Futures today ended down by 70 points after making a high yesterday of 10205 which was along expected lines. Today being the expiry was a very important day. Regular readers of this website are well aware that yesterday we had mentioned in our website update that some sort of choppy movement will be seen which was predicted based on our astro cycle projections and from now on will keep getting more choppier over the next few days which simply means that zigzag movements are expected from now onwards and the zigzag movements will keep increasing for a few more days hence keeping this in mind we had recommended that those trading should adopt a trade in and out strategy and be very nimble footed as far as trading is concerned (we are not suggesting for one minute that buying in portfolio should be done across the board but all that we are saying for the past few days is in the near term we don’t see any major bearishness as the near term selling is overdone for the time being).
Sentiment from a trader’s perspective continues to remain very bearish and most people are still talking about 9700-9800 area being tested in the near term though some people are now talking about some pullback. From our analysis perspective, we are not denying or invalidating that 9700-9800 will not come surely it will come but in the near term, we do not see 9800-9700 area coming directly before some proper retracement takes place of the fall of 11171-9952. Please keep in mind that this pullback could even end all of a sudden so be very careful about how you trade this pullback if you choose to trade the pullback. Some of you have called me and have been asking me when will this pullback end and till where will it go and when to build portfolio etc all these questions we will keep updating our clients.
From an investor’s perspective, we do not see much value even now and it will be better to wait for some deep value. The earnings season is about to begin in a few days and we do not see any significant pick up in earnings but they could just be enough not to disappoint the street too much. There could be some selective surprises and we need to watch overall how the earnings season pans out and how the analyst fraternity adjusts the earnings picture and then projects the earnings growth for the Indian stock market in the coming few months.
SGX Nifty Futures moved higher yesterday and ended the day at around 10250 up almost 100 points. Mercury will be reaching its midpoint in the retrograde time zone soon and in the coming week, we have some very important astro cycle indicators. To start with today March 31st is full moon so that will amplify the energy whatever is currently present then on Monday we have Sun Trine Rahu (North Node) and Moon on 3rd April will be in Scorpio so when all these combinations are put together there will be some massive deception now the question is the deception will be on the buying side or the selling side? In other words, will the traders who are holding shorts be on the right side or they will be forced out of their trading shorts and that in turn could cause them to start buying heavily anticipating higher levels in the market? We will keep guiding our clients as to when and whatever has to be done. Let me give you a hint remember that with Rahu trines it will be more of a deception than an actual move and add the Mercury retrograde aspect to that so we have a confusion and deception which will be seen in the markets in the coming week so be very careful and act only on the news flow or information that you are absolutely crystal clear about. The Indian and global stock markets are in for some very interesting set up in the coming week.
The immediate resistance for Nifty Futures is around the 10230 area and if we are stable above 10230 on spot Nifty on Monday then we could see some massive short covering taking place on Monday. We will not be surprised to see levels of 10300-10340 in a matter of next few trading days so those who are currently holding short in the system (we know that many traders are actually holding shorts in the system so ) if some of the readers are short then do keep a watch for 10230 spot Nifty level if stable above this level we could see Nifty zooming due to massive short covering as there are currently massive shorts in the system.
Good Trading To You!