SGX Nifty 21st March 2016

SGX Nifty

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SGX Nifty Live

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty 21st March 2016

SGX Nifty / Nifty Futures today rallied another 90 points and crossed the 7600 mark after many days of consolidation, now again there will be many traders and technical analyst who will say 7620 as their stop loss for all the shorts they have since 7150 onwards. If we take a closer look at the Nifty hourly charts there has been a triangle formation which breaks out above 7620 spot Nifty. So whenever 7620 is taken out we do see speed picking up and we also see massive short covering. As of now we do not see any significant down side in the Indian Stock Markets and the overall trend in the Global Stock Markets and the Indian Stock Markets remains up for now at least. If we look at the charts Nifty has been making classic higher tops and higher bottoms on all time frames and in such a scenario most traders have been trying to call the top and instead of following the main trend which is up they are short selling Nifty Futures. 

Today morning we did book out of our BTST trade and we are continuing to hold our positional trading longs which we bought at lower levels. We currently do not see any weakness on the charts and till the time we do not see weakness or a trend reversal we will continue to hold on to those positional trading longs for higher side targets. For medium term delivery we have suggested NMDC (which few days back did give 8.5Rs as interim dividend and now is all set to give another 4.5 Rs dividend, We had initiated a buy call on NMDC at 92 Rs and if both the dividend’s are accounted for our net cost of buying drops to 79 so effective we have gained 24 percent on this investment from today’s prices) Once again we reiterate to use all dips and declines to buy and hold MSL, Bajaj Hindustan, EID Parry, Renuka Sugar, Tata Coffee and Kesoram.  Overall we see a good time cycle for these stocks in the coming time. Sugar sector stocks will do very well in the next 20 months and we will see massive gains from these stocks.

As per astro cycles and time cycles the time band from 25th March-29th March 2016 is important as many important events are lined up. So let us look into them as well 23rd March 2016 Jupiter squares Saturn there is also a full moon the same day and there is also a lunar eclipse,  On 25th March 2016 Venus squares Saturn and on the same day there are two other geocosmic signatures Saturn retrograde and Venus opposition Jupiter and then on 26th March 2016 there is Sun trine Mars and on 28th March 2016 it is a lunar cycle trend change day. So there is a lot to see in  the next week.  Since these signatures often tend to change the trend in the market it will be important to see what the impact on the respective markets. Since all technical indicators at this juncture are pointing to the higher side we can expect Nifty to touch 7800-8000 levels in this week (in the next 3 trading days) and then a minor pullback could come but even before the minor pullback a sharp continuation of the previous move from 6825-7583 is highly likely so when we do not think it will be prudent to get out of positional trading longs before 7800-8000 levels and we could see this move taking place very quickly considering the amount of short selling positions the system has at this juncture.  Another indicator which we must see is that Janta post short covering must start talking about super tezi and 8450 type of levels at least. So untill short selling positions are forced out and then Janta does not buy fresh we do not see the trend changing as rahu (north node) is controlling the deceptive move.

Overall trend remains up for now, use all dips to buy and hold and trade for higher side targets of 7800-8000 for this week. Once higher side targets are done then we will see what to do. SGX Nifty / Nifty Futures Minor Trend is up / bullish. SGX Nifty / Nifty Futures Major Trend is also up / bullish.

Good Trading To You!