Nifty Futures Update 11th Nov 2016

SGX Nifty Futures

LTP   8,449.50   +16.50 +0.20% High 8,444.00 Low 8,384.00 (Change Vs Today’s Nifty Futures (NSE) Closing)

SGX Nifty

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Nifty Futures Update 11th Nov 2016

Nifty Futures / SGX Nifty continued its bullish move along expected lines. Yesterday around the lows and on dips we have told our clients to buy longs into NMDC, Ugar Sugar and the new multi bagger stock and all of them are doing very well.






As we have mentioned that in the immediate term the trend will remain on the upside and in a few trading days we should start seeing choppy movement and that choppy movement will not allow most traders to hold either longs or short positions easily so the better thing to do will be to trade in and out as per our analysis sure the pullback could have some more strength in the near term but choppy moves are expected going forward.





Please keep in mind that longer term we remain bearish on India and the global stock markets and we do not expect any money to be made in stocks from a 12-18 months perspective for a simple reason that we see the markets significantly lower from current prices over the next 12-18 months (as we do not see pick up in earnings growth) and we see as per our wave calculations that the final target for this move will be around 5872 minor breach of that is also possible (we know that no one is expecting such bearishness but we will stick to our targets and view as all our calculations show us the same thing) but at the same time in the near term upsides could be seen so please keep that in mind.





If you are a longer term investor then it does not make any sense to buy at such hefty valuations while if you are a short term trader then trade in and out because the moves will be very choppy and trading can be done on both the long side and the short side.

Longer term we remain bearish but we will keep taking tactical trades from a near term perspective as and when we see that opportunity. We do not see much downside in the immediate term not do we see sharp rally taking place from here in the immediate future. As usual if you are not our client and you are only trading on the basis of this post please use appropriate risk management and then only trade. Please do not over trade and please manage your own risk and trade.

Good Trading To You!

30 thoughts on “Nifty Futures Update 11th Nov 2016

  1. Sirji, a warm good morning. As sgx is down, I will be doing plenty of buy saudas in Infosys as it is highly oversold. Yesterday I cleared off all my btst and have taken btst in idea sail jublfood and tataelxsi and short in IOC. Let’s see how it pans out today.
    Glensir, wish you all the best for all times

  2. Glen Sir, given the current scenario where banks will be having huge CASA , do u still stick to your stand of shorting them for the previous targets ??

  3. Sir,
    Bought one very small F&O long position for december at Nifty spot 8300. Let’s see how it goes.nifty falling big time. Sgx Nifty now 8150. Are you still bullish on market from short term perspective? FII’s are now selling heavily maybe fed rate hike and currency ban being priced in.

    Regards
    Anpat2015

  4. Dear sir
    ‘Hats off to u’ for ur two calls.
    1. Fed will raise rates faster than mkts discounting.
    2. There will b 30-40% fall in property prices.
    Now it’s evident that both r going to be true.
    Great work

    Thanx

      1. Dear sir
        I’m waiting for ur detailed analysis on note ban.i believe it will badly affect domestic consumption for a long time. In that case do u see nifty breaching 7000 in Dec itself. Do u see ur final downside tgt for nifty arriving much earlier.
        Tnank you sir

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