SGX Nifty 13th May 2016

SGX Nifty

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

SGX Nifty

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SGX Nifty 13th May 2016

SGX Nifty / Nifty Futures today was positive and finally closed the day higher by 51 points.  We reiterate that we continue holding our shorts with a average of 7950 May Futures level. Overall as per Nifty Futures Tips / Nifty Prediction we maintain our Nifty view that upsides are very restricted and downsides are now open.  Clients and regular readers of this website are well that when Nifty moved from 7600 to 7800 we clearly updated to book profits in long positions which were built around 7000 levels and we also clearly mentioned that the internal structure of the Nifty had changed at that time which was indicating that upsides will be capped. Since then almost 5 weeks have passed and yet Nifty has been unable to move past 8000 levels which is a mere 200 point move. What we see it as that this is a major distribution pattern going on and once this distribution is over we will see Nifty drifting lower rather significantly lower. Reiterate these are not prices to buy but these are prices to sell and even short sell Nifty Futures.  Some traders get the illusion that Nifty is moving higher but in reality Nifty has just been in a trading range.

Tomorrow 13th May 2016 is very important as Mercury will begin its move through heliocentric Sagittarius and that has important implications for both Equities and Gold and Silver also.  Since as of now Mercury is retrograde we could see sharp price swings in Gold and Silver.

Reiterate buy and Hold MSL, Bajaj Hindustan, Eid Parry, Renuka Sugar on dips as these stocks will do very well in the coming time. Ugar sugar has been a great outperformer and we had identified this stock when it was 23 INR and just FYI this was the new multi bagger that we were talking about. On dips one can buy and hold Ugar Sugar. We see significantly higher prices for Ugar sugar even from here but buying is advised on dips. (Those who are only trading on the basis of this post kindly use appropriate risk management and trade)

Nifty Transcript for today

[09:01, 12/5/2016] +91 90040 79145: Gm
[09:01, 12/5/2016] +91 90040 79145: Hold 1 part STBT Trade & Positional Trade Nifty May 7500 Call Hold 1 Part Short, Nifty May 7600 Call Hold 1 Part Short & Nifty May Fut Hold 1 Part Short. Kindly hold till next update
[09:36, 12/5/2016] +91 90040 79145: wait for msg to sell more
[10:04, 12/5/2016] +91 90040 79145: Hold 1 part STBT Trade & Positional Trade Nifty May 7500 Call Hold 1 Part Short, Nifty May 7600 Call Hold 1 Part Short & Nifty May Fut Hold 1 Part Short. Kindly hold till next update
[11:22, 12/5/2016] +91 90040 79145: Hold positions as told
[11:22, 12/5/2016] +91 90040 79145: If anything has to be done I will update
[12:37, 12/5/2016] +91 90040 79145: Hold positions as told
[12:39, 12/5/2016] +91 90040 79145: nothing fresh to be done for now
[12:39, 12/5/2016] +91 90040 79145: if anything I will update
[12:39, 12/5/2016] +91 90040 79145: buy renuka sugar on dips
[12:54, 12/5/2016] +91 90040 79145: Ugar sugar mallavvvvvvvv
[14:02, 12/5/2016] +91 90040 79145: no volumes
[14:16, 12/5/2016] +91 90040 79145: please wait for msg to sell more
[14:17, 12/5/2016] +91 90040 79145: if any stbt i will udpate
[14:17, 12/5/2016] +91 90040 79145: ghai matt karo
[14:17, 12/5/2016] +91 90040 79145: keep cool and wait

Good Trading To You!