Nifty Futures Update 9th Dec 2016

SGX Nifty Futures

LTP   9,871.00   +16.00 +0.16% High 9,878.00 Low 9,858.50 (Change Vs Today’s Nifty Futures (NSE) Closing)

SGX Nifty

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Nifty Futures Update 9th Nov 2016

Nifty Futures / SGX Nifty today continued its up move along expected lines. We have been saying that the near term trend remains up although we once again reiterate that Nifty will eventually fall to 5872 but in the near term we do not see short selling making much or any money.

Overall the near term trend does not show us that downside moves are coming immediately. It is only once this pullback move ends will the main trend which is down will resume but till this near term pullback does not end it will not be a good strategy to short sell also keep in mind that as and whenever we see the near term trend coming to a end we will once again initiate short selling positions but till the time we do not see that the near term trend shows weakness we should not short sell or exit longs for that matter.
If you are only trading on the basis of this post then please use appropriate risk management and then only trade. We do not recommend over trading and we strongly recommend that you trade only as per your own system.

Yesterday RBI did not cut rates and we were expecting a min of 25 bps from them. In my personal view I still do not agree with the RBI decision but anyways as the charts are showing that the near term trend is up we will keep holding longs till the time we do not see the near term trend changing to down also we see that the overall sentiment indicators are still showing signs of extreme bearishness.

We have seen that when almost all the traders want to sell and no one wants to buy that sentiment has always lead to a near term pullback and that is what we are seeing. Price has built in all the near term negatives so we do not expect immediate down moves but at the same time keep in mind that when this pullback ends we will start seeing moves towards 5872 which is our longer term target. 

Good Trading To You! 

162 thoughts on “Nifty Futures Update 9th Dec 2016

  1. Excellent, Nifty moved as per your analysis and prediction even though lots of negative news have flown into. Lets see where this uptrend ends.

  2. Mallav ji, I bought 8000PE Dec 17 due to the inputs from one of my colleague, can I book loss ji? Since almost one year to go for expiry, can I wait or book loss ji? Ur comments would be much appreciated.

  3. Most of the world markets are at all time high’s. Do you see Indian markets making all time high’s in this upmove or that would be to much of optimism?

    Regards
    Anpat2015

  4. Sir,
    Renuka sugar trading below 14.5 now for a month, this was unexpected. It’s not showing any kind of bullishness and is really testing the patience. Do you still think Renuka will reach your targets of 70 in coming time?

    Regards
    Anpat2015

  5. I still remember you were saying in june/july too the same thing that the market will go down as people are saying 8500 9000 and u went short. Now the same case here you are saying people are saying 7500 and you are going long..lets see what market brngs.

  6. great call on nifty sir. just want to know how the next week will nifty do. bcoz fed meet is there. do u see rally or rangebound trade.

  7. Sir, please guide us with nifty levels in December 2016 .Nifty has cross 8260 mark once of Cross 8350 can we see 8614 Your advice is highly valuable.

  8. Renuka target 70 is fine but the timeline is important. Since last one year i see this stock between 14-18 level only. Bahut dukh diya hai ye stock ne mujhe.

  9. Sirji, Good Afternoon to You.
    As last Saturday I had given list of 22 scips to go long as it was oversold and only Concor was a laggard and rest were up between 3 to 7%, and of the overbought 5 stocks Infratel was down by 7%.
    This week the following are OVERBought and I would do STBT in any if they are up (in Green) at 3.25 pm
    AB Nuvo
    Adani Ports
    Bel
    Beml
    Bharat Forge
    Biocon
    Engineers India
    Hindalco
    IFCI
    IGL
    KSCL
    OFSS
    OIL
    ONGC
    Petronet
    PFC
    SAIL
    Tata Elxsi
    Tata Steel
    UPL
    VedL
    The stocks which are on my Radar to buy on weak days (i.e. down day or red candle) are
    Infratel, Crompton Greaves, IBulHsg, PCJ, SunPharma.
    Sirji, this market is really a trader^s paradise in which buying on dips & @ lower D.C.and selling on rallies at upper D.C. gives excellent trade results.

  10. Sir I bought ugar sugar 2000 quantity 37 and 2000 more at 28 what can I do sir? Now wait? Or exit what is stoploss? Target? How many times I have to waiting?

  11. Sir, do you see nifty testing 7750 or below by 19 december on the context of fed rate hike . do you see that that kind of levels in near term

  12. Sir.. What is your long term view on gold..and gold related businesses.. Like jewelers, nbfcs and gold loan related professions…

  13. Sir.. Do u thing 2morrows result of Bajaj hind will be good n now prices can start moving to northward direction.. Should we buy it @ cmp

  14. Sirji, today I covered my stbt of Friday done at 3.25 pm in bel, beml, godrej Ind and idfc @ 1% profit prefitted which amounts to approximately 6000 = per lot. Today I have stbt done at 3.25 pm in engineers Ind, ongc, bharat forge and glenmark. Tomorrow, I will short trading in vedl when it is in green., as well as tataelxsi . Today, intraday shorts in engineers Ind. & tataelxsi gave good results.
    Waiting to do btst in Crompton greaves and infratel and ubl at appropriate levels, probably next Monday or Tuesday 3.25 pm😊😑.
    Best to do stbt at upper end of D.C. with RSI O.B. & btst at lower end of D.C. with RSI O.S.
    ThanQ very much sirji for the talk. I will definitely meet You in Mumbai. Good night & take care.

  15. Hello Glen sir, when do you think banking would get some up-move ? Although market is not going down, banking stocks had good correction.

  16. Sir, Have appreciated your view on nifty , I would request if you can share how this market behave once mercury retrograde on 19/12/2016. Mostly since presently market have stuck in rangebound , Mercury is believe to do reverse of the market . Can we see strong surge in nifty or strong down fall . Your guidance will be highly beneficial

  17. Hi sir
    Thanks for your guidance on nifty in past.
    My question is
    Sir what is the target for nifty in short term for upperside ?

    And at what time final target of nifty 5872 will come ? On 23rd Feb 2016’s blog you had told nifty’s final bottom will be 5851-6300 on around 12-26 dec 2016

    And when will be 22800 target for nifty will come which you have mention on 24th Oct 2016’s blog you had told

  18. Dear Sir,
    UGAR is still going down and I bought 9 times till now from 42 to 23 level and maintaining avg of around 30. How much downside is left?
    Do you think, we can buy more on 22 level or should wait for more downfall?
    Regards,

  19. My view big movment may come in few days we may see 300 to 500pt bounce in a day hoping it to b on upside… Tomorrow can be gap up or gap down lets see

  20. Dear sir,
    Request your inputs , US sugar future going down day by day…now trading at 18.50$. Still we buy sugar on dips….
    There is no sign in global as well as in domestic mkt regarding sugar price rise…
    At Local retail shop sugar is at 38/40/42 per kg…
    In recend report published by ISMA..stated that sugar stock is sufficient to meet sugar demand this year…
    Also monsoon is good so next sugar crop season….there would be high sugar cane production…This would help to maintain sugar stock to meet demand of sugar in next year…

    My views could be wrong..am not worry 1% for holding sugar stock till further update from you.
    But bit confused about holding sugar stocks in good quantity…

    Rigved

    1. There are way too many things that cannot be understood by logical and fundamental analysis like you have pointed above. In my research, Astro cycles show the move well in advance and we do not know what news triggers will come but we still see a great time ahead for sugar

      1. I do not have single % doubt on your analysis…
        I posted here what I read and watch…
        Your analysis on cash mkt is highly accurate… Even future too good…

  21. Sir, do you regret your recommendation on Ugar and Renuka. Do you still suggest holding on to it for 6 months – 1 year holding. Appreciate your valuable comments here as this is something people have entered heavily on your trustful recommendation. There is no update on your blog and also all the posts are being blocked. Any specific reason Sir.

    1. 1) Ugar sugar entered at 19-21 and booked at 70 which is a 230 percent return
      2) Once again we initiated buying below 38 (have told to accumulate below 38 in a staggered manner )
      3) Assuming someone bought at 21 booked at 70 and now entered full qty even at 38 then the average costing for his stock is 11 CMP even today is 22 which means 100 percent profit. So when the profits are so huge where is the question of regret?
      4) W R T Renuka we still see a good time and we have recommended ant average price of 7-8 Rs even today price is at 13 which means 70 percent return. Where is the question of regret?

  22. sir tomorrow is brazil sell of renuka so no upward movement will be there also sir i am holding at 23 then 18 then 15 now 13 what to do sir please advice

  23. Dear Sir
    thanks for all your support to your followers.
    Sir i want to know near term trend for bank nifty.
    what are its important levels like support and targets.
    can we buy bank nifty at these levels.
    thanks a lot in advance.

  24. You have not replied to the question of mayur that in your earlier blog of 23 rd you predicted 6300 by Dec 2016 nd its not happening now as you are saying near term up kindly comment

    1. Whenever there is a important update I will update website. markets have been in a range nothing new to communicate as of now

  25. can we see nifty bouncing back from 8056 like it did on 08/11/2016 or 09/11/2016 where bounced till 8400+ levels in intraday

    despite global market are upward trajectory we are under performing.

  26. Sir, is Any possibility Can we see 350-500 points rise in nifty before december 2016 expiry . Your specific comment is highly apreciated

  27. As told 8300 max upside then downside again towards 7700.. Now you can see the result. touched 8295 and fallen. Near term also no upside. Understand market has lost its steam now.

  28. Dear Sir,
    As you replied, long term target of 5872 is based on Combination of multiple systems.

    Are they combination of Elliott wave, Gann, Astrology etc?
    Would you suggest Neo Wave (advanced elliott wave)?

  29. HI
    SIR PLEASE, PLEASE, PLEASE REPLAY THE MESSAGE
    SIR IF MADHU MILL AUCTION IS NOT POSSIBLE WHAT BOTTOM CAN RENUKA GO AND THAT IS THE RIGHT TIME TO BUY RENUKA SUGAR
    SIR PLEASE, PLEASE, PLEASE REPLAY THE MESSAGE

  30. Glenn sir,

    Are you sure about your count on nifty (near term up)
    the way market is behaving is exactly opposite to your count. I think there is a huge gap between your timing and market timing, whenever you say a particular trend/direction market will move against to that atleast for a couple of days or weeks, you have been saying that near term trend is up, however we havent seen that in the recent past, atleast since 10 days. could you please let us know on what basis the market move upside, any justification for this up move. Your quick response is highly appreciated.

  31. Sir, By when you see on the charts that market will start rising . Present market situation seems it lacks follow up buying and with even small rise FII become the seller. if this continue like this i think market will be drift down . Any possibility of rising in December series or market will make sustained bottom in this series than rise
    Your comments are highly valuable.

  32. Still trend is up, kindly confirm Sir. From the past couple of weeks you are saying trend is up, no one got benefited in long I hope. I do understand that this is an open forum but still your targets utterly failed from so many weeks

  33. sir in short term around 3 percent index correct hota hai, stocks 10 to 15 percent correct hote hai

    and u still bullish for short term

    how

  34. Sir any chance of recovery till 8150-8200 this expiry , seems like downward 7800 is open now, r u still bullish at least near term means in this expiry.

  35. Sir any chance of recovery till 8150-8200 this expiry , seems like downward 7800 is open now, r u still bullish at least near term means in this expiry. Any guidance Sir.

  36. Hi Sir, This is high time now update the blog and guide us since Nifty is no more in range now. It has broken lower side of the range 8000-8300 and closed below the range. Kindly guide us on the future movement direction for Nifty and your favourite stocks which you mentioned on this blog. Are we good to still hold long in Nifty for January expiry timeline. When do you see pick up in nifty on upside and what could be the reversal level and probable targets and timeline please.(You may reserve whatever you might like to reserve for your paid clients)

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