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SGX Nifty 22nd Jan 2016
SGX Nifty / Nifty Futures Minor Trend is oversold. SGX Nifty / Nifty Futures Major Trend is bullish / up. As per our Indian Stock Market analysis / Nifty Prediction we do not see any significant downsides remaining now and all dips must be used to buy positional trading longs for upper side targets of 8800-9000 (This target is for next 90-180 days and not for next week, please don’t call me on 2nd Feb 2016 and ask me how come 8800 did not come). Sure minor volatility is still possible till 27th Jan 2016 but we do not see prices sustaining on the downside and price will keep bouncing back from lower levels or to put a number to it prices will keep bouncing back from below 7300 spot Nifty and we do not see prices sustaining for long below 7300 now. Any dip below 7300 spot Nifty will be a great buying opportunity from a positional trading view (90-180 days). What Share market News will take it there? I don’t know. So please keep news flow out for now at least, news will follow our trade later and then in hind sight we will say was a great opportunity to buy below 7500.
Yesterday 20th Jan 2016 Nifty spot made a low of 7241 and then moved higher towards 7400 this morning the speed on the upside (from 7241-7400) was good and the retracement of that move from 7400- to today’s low has been with far lesser volumes and speed of decline was also slow compared to the rise from 7241-7400 which in our analysis is a confirmation of the wave characteristics. So even price and volume behavior are confirming that lower side bottom is done (Minor variations still possible). As far as time cycle and astro cycles are concerned we had clearly told our clients that even Thursday we could see a bit of negativity so that is also through. From Wednesday 27th Jan 2016 we see a positive cycle for Indian Stock markets and we see prices stating to move higher gradually at first, but from 3rd-4th Feb 2016 we will be seeing some crazy moves on the upside. Actually speaking Nifty will exhibit irrational moves of bullishness so much so that all bears will keep getting trapped at all levels hence our advice is to avoid shorting this market from 27th Jan 2016 onwards. Some very important geocosmic signatures changes occur around 1st Feb 2016 (Rahu also known as North Node changes house as per vedic astrology) and that could create crazy bullish moves out of nowhere. All negative news will get discounted and irrational bullish moves will happen taking Nifty towards 8800-9000 in 3 phases.
Nifty spot support for tomorrow 22nd Jan 2016 is at 7211 and resistance is at 7429. Use any dip to buy high quality stocks and Nifty Futures.
Good Trading To You!