SGX Nifty 19th Feb 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 19th Feb 2016

SGX Nifty / Nifty Futures today opened higher on firm global cues and after opening around 7200 during intraday day gave a pullback towards 7128 spot Nifty levels and then recovered back towards 7200.  As per our Indian Stock Market tips / advise / Nifty Prediction given to our clients we maintain our bullish view for the short term till Aug 2016 or till 8800-9000 levels are touched whichever is earlier and we do not see any significant downside from current levels. On dips like the one we did see today go out and keep buying Nifty Futures / high quality stocks as mentioned and hold them as we see a very good bullish cycle which will end up creating huge froth in valuations and extreme bullish sentiment. As the sentiment indicators stand right now no one on earth is bullish and everyone is trying to identify all problems starting from slow down in China to weak Indian corporate earnings picture but no one is even talking higher than 7500 or may be 7600 max on the bullish side.  For a matter of record we are writting it here today so that in future this post can be used as a reference point. Towards the end of the bullish cycle all the Janta and so called smart analyst and TV anchors on all news channels will start talking and predicting Nifty targets of 12500 and 10500 respectively but we do not see that happening. The minute people start talking about 10500 and 12500 will be our sentiment indicator that it is time to get out of the Indian stock market from the long side and then start building shorts as we are absolutely clear that post this bullish cycle we will see a very powerful mandi cycle and in that down cycle we will see final bottom so please keep in mind the current bullish cycle will only be a trade in and then trade out. Get in now enjoy the fast rally upwards and then get out and again sit in short positions for our lower side targets. During the bullish move the entire analyst fraternity will start talking that Indian macro picture looks very good, lower crude oil prices will benefit India to such a extent that next year everyone will make massive hyper super profits but we do not see any major changes in Indian economy nor do we see any major changes in Indian corporate earnings in the near future. The current bullish cycle will only be a “Bina kaaran tezi” or a bullish move without any real justification and will end only when the last bearish guy will get sucked into the buying mania that we are about to witness we are writing this today so that this post can be used as a referencing point for all our clients old and new ones to read and understand at that juncture.

Nifty spot support and resistance for tomorrow 22nd Feb 2016 is at 7022 and 7299. Use all dips and declines or consolidation and breakouts to buy and hold longs positions in Nifty Futures and high quality stocks.  Nifty we could see a sharp move starting anytime and by march we could see Nifty moving ahead of 8000 levels so selling March puts during declines will be a safe trading strategy.

Good Trading To You!