Nifty Futures Update 15th Nov 2016

SGX Nifty Futures

LTP   10,940.00   +26.00 +0.24% High 11,041.50 Low 11,001.00 (Change Vs Today’s Nifty Futures (NSE) Closing)

SGX Nifty

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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. We once again reiterate that we do not see one sided movements and there will be many counter trend moves taking place. We once again reiterate that longer term we remain bearish for targets of 5872 but in the near term we do not see much panic so traders take a trade in and out approach rather than buy and hold or sell and hold trades.  From a investors perspective churning portfolio will be needed so in panic investors must deploy cash in a staggered or systematic investment manner and in euphoria a reverse strategy should be done that is systematic withdrawal should be done. Keep in mind trade in and trade out this is not going to be smooth and there is rough and probably even extreme rough turbulence expected in the coming days. Choppy moves will become the new normal in the next few days to come. So even if you invest or trade keep in mind that dont get greedy and dont get stuck in the trade for the next few days at least. The moves will originate out of nowhere and go everywhere and markets are expected to be all over the place so we will see some fascinating moves and thanks to Jupiter’s position it will keep forcing the masses to change their view on everything very quickly so if some people are applauding some things it could happen that all of a sudden they start a negative propaganda on the very same issue. The bottom line being that nothing will be stable or some may even call it insanity and as per our understanding there is plenty of that in the coming days. Be careful and do not over trade under any circumstances.

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!