Nifty Futures Todays Trend, Support, Resistance, Prediction, Analysis, Target and View is given below
Nifty Futures today continued moving along expected lines and now was seen sideways consolidating around the 10,800 area spot Nifty levels mentioned. As per our analysis and sentiment readings there are many traders who are expecting that BJP will form Govt in Karnataka and because of this singular reason Indian Stock market will start moving higher and move towards targets of 11,000 or higher and that is clearly evident in the open interest data that is clearly visible as of now but as per our analysis we do not see that on account of election results alone Indian stock markets will move higher in fact our theory which is based on combination of multiple analysis and theories shows that regardless of whoever forms the Govt in Karnataka markets beyond 15th May will start doing and moving in line with what the overall larger counts are so beyond one or two days of volatility or beyond 15th May 2018 we expect markets to resume the main trend of the market which remains down as per our analysis and view and any upside targets will be restricted due to multiple resistances ahead though it is temporarily possible during the counting time or just post the event but beyond that time frame we do not see any upside sustainable.
So what to do if BJP wins the Karnataka elections? We see that Indian stock markets will have one jump higher but after that will not sustain and reverse and fall sharply after the event because as per our view, prediction and analysis based on various parameters which includes the open interest data that most or bulk of the market participants have gone heavily long expecting an outcome which will favor the BJP and that to our mind is already priced in by the market but what is not priced in is the Cong winning or forming the Govt in alliance with the JDU so if that outcome takes place which looks more likely looking at the exit polls then markets will look to sell off from wherever they are trading so if this outcome of BJP not coming into power in Karnataka takes place then we will see massive sell off in the Indian stock markets not because that BJP is losing the election just because that markets in any circumstances is just waiting for the event to pass and post the event markets will start reacting to the macro headwinds so regardless of the election outcome we are advising our clients not to hold long positions and once again we are saying that looking at the exit polls and our astro cycle projections we see that BJP will not be coming to power, also JDU has issued a statement that they will not align with the BJP so even BJP getting support from JDU has gone and the only way BJP will come to power in Karnataka will be that of coming with absolute majority which does not seem likely as of now based on various exit polls and analytical systems but once again keep in mind that regardless of the event markets are looking to reverse their current pullback trend so post the event a massive sell off could begin even if the outcome is what the markets are expecting or wants.
Nifty Futures technical outlook, view, trend and prediction for 15th May 2018.
We could see some major volatility in the early part of the day but from an astrological standpoint, the trend will become one-sided from or around 11.30 Am so if markets start falling post 11.30 Am then expect one side fall and main trend which is lower to resume. Please keep in mind that I am not suggesting for one minute that upside euphoria cannot happen sure it can but looking at various resistances present on the higher side will that upside sustain the answer to that is no markets won’t sustain higher post or beyond the event as markets / Nifty will start focusing or move the goal post to current headwinds or earnings and not remain with the event. Historically we have seen that post such events markets start moving and resume the main trend within one-two trading days so we don’t see upside sustaining and resuming of the main trend which remains down for the time being. Also, as we have highlighted in our 14th may 2018 update that due to major changes in astrological signatures and some important planets changing houses a lot of activity could be seen in the Banking sector so do watch out for the Banks especially the weak ones in the PSU banking space they could start sharp downside moves be very alert on that sector and on account of all this volatility also, look out for the USDINR pair as we could see sharp depreciation taking place in the USDINR pair in a few days time.
Nifty Share Price / Nifty 50 / Nifty Futures today’s stats
Nifty spot LTP 10806 (+0, +0.0%) , Nifty 31May Futures LTP 10,807 (Previous Close 10815, Volume 75,630) , Nifty 28June Futures LTP 10814 (Previous Close 10826, Volume 4,843 ), Rollover Difference 6.6 points, Rollover percent 4.05% , Open Interest 346652, OI Change -0.83%, PCR (Put Call Ratio) 1.36, Today’s Low-High 10774-10834. Top Gainer was NTPC and Top Loser was Titan Open Interest Up NTPC Most Open Interest Down Oriental Bank Daily Nifty spot RSI 66.41. Advance 490 Declines 1252 Unchanged 313. Short-term trend Neutral Long-Term Trend Down
Nifty Futures / SGX Nifty Live Streaming Real-Time Chart which updates on a real-time basis is provided below for reference Resistance, support levels have been discussed above