SGX Nifty 13th Jan 2016

SGX Nifty

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty 13th Jan 2016

SGX Nifty / Nifty Futures Minor Trend is down / bearish. SGX Nifty / Nifty Futures Major Trend is bullish / up. As per our Nifty Prediction / Indian Stock Market analysis we do not see Nifty sustaining below 7500 spot for long but we still have not bottomed out and we could see a sharp panic during the next few trading sessions hence trade with caution. During the panic bottom formation we could even see levels of 7300 but in that panic buying at appropriate points and support zones will make more sense and give huge money from a positional stand point trying to sell the last part of the fall does not make any sense to my mind. Risk reward is now in favor of positional trading longs. As of now there is no confirmation of bottom being in place hence on dips below 7500 we will be buying in a staggered manner. (When to buy, where to buy, how much to buy all details will be given live to our clients)

Mercury is still retrograde and as we have been saying this will create sharp sudden price swings all of a sudden out of nowhere so please trade light and trade with caution. Also of importance this week will be midpoint of mercury retrograde and this also generally acts as a turning point for many markets in our historical back testing.

The strategy from now onwards should be to initiate positional trading longs on dips in a staggered manner and buy slow and steadily for targets of 8800-9000 which we see will come in the next 90-180 days post bottom panic formation is done. Nifty support and resistance for tomorrow 13th Jan 2016 is at 7410 and 7681. (Nifty 50 spot levels mentioned)

The time cycles are indicating that bottom formation is not too far in time and as W D Gann one of the greatest traders of all time said “Not until sufficient time has passed will any move begin up or down” So time is nearing its end of down cycle and post the end of down cycle time a amazing bull cycle will begin taking Nifty towards 8800-9000. (Please not this will be a trade in and out move towards 8800-9000, post 8800-9000 as per our analysis we are not expecting any significant upside, rather we see a fall again even after 8800-9000 is done)

USDINR 13th Jan 2016

USDINR short term / Minor trend is up and USDINR Major Trend is down. In the near term we expect USDINR to come and test 67.15 spot USDINR levels mentioned and then move towards 63. Move towards 63 will be the final bullish move for INR post 63 we see INR moving back towards 72/70.

Good Trading To You!