SGX Nifty 19th July 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 19th July 2016

PLEASE NOTE THAT THIS IS MY OVERALL VIEW ON THE NIFTY AND THAT DOES NOT MEAN PRECISE ENTRY AND EXIT POINTS WILL BE MENTIONED IN THIS POST.  IF YOU ARE TRADING ONLY ON THE BASIS OF THIS POST PLEASE USE APPROPRIATE RISK MANAGEMENT AND THEN ONLY TRADE. PLEASE DO NOT OVER TRADE.

SGX Nifty / Nifty Futures today moved higher in the early part of trade and then started falling. Finally Nifty closed the day at 8508 down 32 points.  We reiterate that we see significantly lower levels from here and we are expecting the resumption of the bear market that started on 4th March 2015. The cycle which started on 4th March 2015 is not complete as per our analysis and we see that giving us significant lower prices to buy stocks. We were expecting the move from 7000 levels to around 8000-8250 and as said before that the only different thing that has actually happened is that final part of the ongoing wave got split.  If a wave does get split it does not mean that larger stucture has changed.  Our astro cycle analysis also is clearly pointing out to the hyper valuations and froth that has been created. Please keep in mind that we had exactly been anticipating this very scenario to play out at lower levels of 7000. At that juncture when everyone was talking about 6500 and 6300 we had very clearly mentioned that all those levels will come but before the downside levels come we will see a massive tezi cycle and that bullish cycle we had targets of 8250 but now that is more or less done.  Once again we reiterate that Nifty has traveled till here only because of a split wave. Materially nothing else has changed. We have been guiding our clients on how to adjust the positions.  Those people who are only trading on the basis of this post please keep your risk in check and trade.  Further if you do not concur with our analysis  then you must trade based on your own view and systems. There is no need to follow me if that is the case.

We continue our bullish stance on Ugar sugar and other stocks mentioned.  Silver will be giving us a good trading opportunity in the coming days keep a watch on silver. USDINR we see moving higher from here over the next 3 months.  We will keep trading in and out as and when we see opportunity.

Good Trading To You!