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SGX Nifty 18th DEC 2015
After a long time FED did move yesterday and did raise interest rates by 0.25 Bps and we feel the impact for Indian Stock Markets could be a fall towards 7500 in panic which is possible as of right now we are in a no trade zone and we are waiting for the panic to set in or for SGX Nifty / Nifty Futures to confirm that downward structure has been completed by moving above 7879 Spot Nifty . As per our Indian Stock market analysis we do not feel the upward trajectory towards 8800-9000 has started now as the entire move from 7554 till today morning is looking like a corrective wave. Since this is a corrective wave we do not see the move sustaining on the higher side and we see a possibility of one round of panic towards 7500 or may be a bit lower also is possible during intraday trade. Hence we are in wait and watch mode for now. (If you are trading only on the basis of this post please use appropriate risk management and trade, we see the longer term trend as bullish and hence we do not recommend to short sell Nifty Futures or any other instruments. On the other hand we are recommending buy on dips as a strategy)
SGX Nifty Minor Trend is Neutral. SGX Nifty Major Trend is up / bullish. On dips we will be buying towards appropriate supports or low risk entry points for longer term targets of 8800-9000. We do not recommend to short sell under any circumstances. As we have been saying major trend is up since so many days it just took a few days for the Indian Stock Market to snap back and move higher back above 7700. Even in the event of a panic we do not see Nifty sustaining much lower than 7700 and hence we recommending buying from a positional stand point not from a week’s perspective.
If Nifty does move above 7879 spot then we will have final confirmation of the trend reversal and then all dips can be bought into or entry into long positions must be done at all low risk entry points. Further our readers must also understand we are not predicting a one side movement towards 8800-9000. We will have sufficient entry points in terms of pullbacks along the way so even if is taken out do not be in a haste to buy. Buying has to be done but in a proper tactical manner.
Good Trading To You!