SGX Nifty Futures
(Change Vs Today’s Nifty Futures (NSE) Closing)
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Nifty Futures Update 15th Nov 2016
Nifty Futures / SGX Nifty has been all over the place in the past few trading days and keep in mind this kind of choppy movement will continue.
From a astro point of view tomorrow will be very important as we have a full moon at perigee (which means that moon is at the closest distance to earth in fact it will be the nearest in absolute distance since almost 1948 so do expect many important things ) so all things in the world and that includes financial markets will change very quickly. There will be many people who’s luck and overall life could change in a matter of minutes in the next 48 hours so be careful. (I am not referring to the black money stuff and all that).
With respect to the Govt move on black money and scraping 500 and 1000 INR denomination I personally do not see much merit in the move and I beg to differ with most of the people on the after effects of this. In future all the Indian black money will be in Dubai and in USD so INR as a currency will no longer be the choice for diamond merchants and many other impex business . In the near term as a fall out of this move we could see Reserve Bank cut rates by 0.50 Bps in the coming meeting on 7th Dec 2016 but the longer term we do not see great gains for Govt of India by this move. From a demand point of view the near term demand is very badly affected and we could see a really bad contraction in numbers by corporate India in the coming next 2-3 months.
Gold in the near term could become the safe haven trade and there could be some positive moves coming in the next few days. Moves in Gold could equally stun people.
Good Trading To You!