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SGX Nifty Live
SGX Nifty 22nd March 2016
Nifty today continued to rally in style and once again by the Grace of God we have been spot on in predicting the current trend well in advance. We were possibly the only ones who were consistently saying buy Nifty on dips for positional higher side targets and once again we have proved our accuracy. Nifty now has rallied almost 900 points from the low of 6825 made on 29th Feb 2016 (on budget day) and now for risk management purpose we have got out of our trading longs bought at 7250-7100 area. We are now not holding any long positions.
SGX Nifty / Nifty Futures Minor Trend is bullish / up. SGX Nifty / Nifty Futures Major Trend is up / bullish. As per our Nifty Prediction / Indian Stock Market tips Trend remains up for now but some minor down side is possible. Frankly the real reason for the bullish move was the INR appreciation and as per what we were tracking a lot of that move in the INR has now played out. Also I must candidly accept that as per our wave counts we should have seen Nifty blasting above 7600 and that has not happened so although the trend remains up we could see some pullback going forward and during that pullback we will see where and when to reenter the long positions once again. From a tactical stand point if we do see over 250-300 points down move possible then in that case we will short sell Nifty Futures (Yes short Nifty futures if and only if we get some divergence confirmation on our charts, for now we do not have much divergences) The risk reward another of the parameter that we pay attention to and after today’s move is not in favor of buying fresh at these levels hence we have got out of our long positions for once. So now from here on fresh buying must be avoided and we will wait for next signal that Nifty shows us. Another factor that we were looking into is that the long weekend that is coming up and extremely powerful astro signatures most of which are level 1 indicators as per our historical studies and 28th March 2016 being a lunar cycle date hence that has a good in fact very high probability of changing the trend (in terms of a pullback or a proper correction of the move of 6825-cmp) so all and all we have made good money in this part of the bullish cycle and we will now wait for indications from Nifty for further trades in the near term.
Good Trading To You!