Error parsing: Query returned empty response
SGX Nifty 21st April 2016
SGX Nifty today opened higher today and then gave back its morning gains to close the day flat. Yesterday there were many people who were looking at SGX Nifty and expecting 8000+ today but today none of that was playing out today and as we have been saying that we do not see a run away stock markets from now on. As per our Nifty Prediction / Nifty Future Tips given to our clients as of now we have done positional shorts and we will be adding more on rise if any. From a current stand point we see Nifty Futures almost at the topping area and we do not see Nifty Futures moving much higher from here. The current Q4 results will be bad and below estimates for most of the companies and we are not seeing that Q4 results will take Nifty Futures much higher from here in fact bad earnings will further take the valuations higher and also force many people in the analyst fraternity to down grade results going forward. The current move which has started from 29th Feb 2016 is now in final stages and once again we are repeating that these are prices to sell and book our of your portfolio and also short sell Nifty Futures. This is not a area to buy fresh eventually buying needs to be done but not at this stage. At this stage both traders and investors must be light on their portfolio and be on as much cash as possible and traders must not be long as Nifty Futures in our wave counts and overall analysis is showing a reversal and a corrective cycle starting anytime. Only after that corrective cycle is completed should traders and investors buy again but till that time it will be prudent to wait for the down side move to get over.
SGX Nifty / Nifty Futures Minor Trend is down / bearish. Use all rise to book profits and traders may even short sell Nifty Futures now onwards. Use the current dip to buy and hold sugar stocks and stocks which have good value like MSL, Kesoram, NMDC all these stocks will do very well in the coming time.
Nifty spot support and resistance for tomorrow is at 7710 and 7980.
Good Trading To You!