SGX Nifty Futures
(Change Vs Today’s Nifty Futures (NSE) Closing)
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Nifty Futures 2nd Nov 2016
Nifty Futures / SGX Nifty today was trading within a range along expected lines after moving higher during the day Nifty closed flat.
The important event that is coming up is the FOMC meeting on 2nd Nov 2016 so we just have one more trading day to go before we know if the FED moves or does not move and most market participants are focused on what FED will do but we do not think that whatever the FED will do will on 2nd Nov will have much impact.
The dollar index is indicating that smart money has been buying the green back since the last FOMC meeting and when we look at multiple leading indicators which are based on Dollar Index, Gold and Crude we see that the smart money is expecting either a rate hike this time or they are expecting a very strong guidance for Dec 2016 rate hike of 0.25 bps so please keep that in mind.
We see too many head winds in the coming time and we do not see stocks as a asset class doing very well in the time to come. MSL some big institutional guys are buying for some key persons who are very well known to the management of the company. We also pick up information that some big corporate announcement is in the making soon so do keep that stock on your radar.
Good Trading To You!