SGX Nifty 16th July 2015

SGX Nifty

-365.76

Index Last High Low
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
CNX Nifty Spot 7879.50 7880.20 7837.70

 

SGX Nifty / Nifty Trend / Nifty Prediction / Stock Market Tips for 16th July 2015

SGX Nifty / Nifty Trend today was positive. Maruti, tata Power, Wipro, HDFC Ltd, Ultra Tech Cements, Tata Motors, TCS, Grasim, Asian Paints and Lupin were gaining today while Cairn India, Yes Bank, Punjab National Bank, HCL tech, BPCL, Power grid, Bosch Ltd and Tata Steel were on the losing side today. As per time cycle inversion is confirmed and as inversion is confirmed down cycle will extend in terms of price and time (Details have been given in 2nd July 2015 post). So the down cycle started from 4th March 2015 will be extending and is not going to end here. In other words another top is going to be formed shortly here and we are expecting resumption of the down cycle that was going on since 4th March 2015. As far as price is concerned top is almost done however in terms of time another few days consolidation is possible at the upper end around 8550-8672 price band. Upperside we do not see Nifty spot sustaining and intraday pullbacks if any will not last. Extreme caution is advised. Most traders are expecting a 8750-8850 target for this move but we are not expecting any move beyond 8672. (When to sell where to sell etc details will be given to clients on msg) If Nifty had to move higher there should have been massive speed by now (assuming there was a terminal occurring at 7941) and this kind of sluggishness on the upside and range bound movement, lack of volume, Mid Caps and small caps getting active confirms only one thing and that it wave has got split and inversion has occurred.

USDINR Update

USDINR has good support at 63.20 spot and our target for this current move is 64.18. Overall longer term our targets are 68-72. We maintain our advice to be hedged and we expect dolor Index to start gaining shortly. US Fed is expected to start increasing rates anytime in the second half of 2015 and we believe it will send INR crashing lower towards 68-72 once Fed starts rate hike cycle. This also put Reserve Bank of India on the back foot and we do not expect further rate cuts for this financial year. Harvesting season is not turning out to be good for now (we have been clearly saying that harvesting does not look good as per our astro cycles and exactly that is playing out on the ground). This will send food inflation higher (data released on Monday suggest that overall inflation is headed higher and downward trajectory has been halted at least for now) .

Sugar Sector Update

Reiterate Buy and Hold Sugar Sector. Bajaj Hindustan, Renuka Sugar and EID Parry will gie 5 X returns over next 3 years till 2019. Most agro commodities will start running up from the second half of this year that includes Cotton, Coffee, Soybean.

Crude Oil Update

Nymex Crude Oil support as mentioned is at 46/48 $/BBL and we do not see that breaking till early part of next year. Upper side we do not see Crude Oil going significantly beyond 72 and overall range will be between 48-72.

For details of our advisory services please feel free to call me on 9222294707.

Good Trading To You!