SGX Nifty 1st June 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 1st June 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.

SGX Nifty / Nifty Futures today continued its consolidation in a small range.  As regular readers and clients of this website are well aware that we are not bullish at these prices. As per Nifty Futures Tips / Nifty Prediction given to our clients we maintain our negative view on the markets for now. We do not see much upsides from here and we see prices in a topping pattern. Sure Nifty can still give us a upside surprise but we do not see that upside prices sustaining for long so keep in mind that even if higher side prices are seen we do not see those prices sustaining and we expect much more lower levels  from current prices over the next 3-4 months. In a nut shell as per our view we see Nifty at significantly lower prices in the coming months. The positives of probable good monsoon, GST and few other bill being passed in the Indian Parliament are in the price and we do not see Nifty moving much higher from here.

This is what we had mentioned in our 29th Feb 2016 post

“As per our Indian Stock Market analysis / tips / Nifty Prediction we do not see downside beyond 6790 spot Nifty and as said we are clear that unless there are four trading closes below 6790 our view for 8250 and then 8800-9000 remains absolutely intact” Click Here to read that entire post

This is what we had mentioned in our 1st March Post

“We are once again reiterating our view that this is the bottom for the Nifty in this round and we will now begin a massive bullish cycle. Until and unless Janta starts yelling 10500 we do not see further downside and we expect a sharp bullish move towards 8800-9000. In this round of tezi itself we should see 8200+ so keep that in mind that from now on mandi will not take place” Click Here to read the entire post

This is what we had mentioned in our 8th March post

if the Indian and Global stock markets start zooming means we are in for some irrational exuberance or as in our language we say “Bina kaaran Tezi” Some people may call it short covering or some may call it non sense bottom line is Nifty could stage a crazy bullish move in the next few days. Click here to read more

Now the Tezi cycle which we were predicting has come to a end as per our analysis (Higher levels will come later but not now first we see major slide over the next few months). What we were predicting when Nifty was at 7000 levels was exactly what has happened and when we were predicting Nifty around 8000 levels no one was willing to understand or believe today no one will understand why we have become bearish once again, most people will only focus on the news of monsoon, GST etc). We did become bearish from 7800 onwards as the major move had been done and we were trading in and out of our short positions post 7800 in order to push our cost of shorts higher.  Hence as of now we continue to remain short but please keep in mind that we may do some tactical positioning if we do see some further pullback but overall from a 3-4 months perspective we are now negative on the markets. Everything is in the price as per our analysis. (I am just sharing my personal view here, I may be wrong and if you are not our client then please use appropriate risk management strategy from your side and then only trade)

Good Trading To You!