SGX Nifty 22nd May 2015

SGX Nifty Futures

74.30

Index Last High Low
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
CNX Nifty Spot 7879.50 7880.20 7837.70

 

SGX Nifty 22nd May 2015

Sgx Nifty today was in consolidation mode. As per our SGX Nifty Trend and Nifty Prediction Minor Trend has turned up while major trend remains down. SGX Nifty can touch 8550 Nifty spot levels mentioned and may even continue towards 8672-8750. (Please use this pullback to exit longs which are trapped or stuck) Overall once pullback end downward momentum is likely and it will be with speed. As per Financial Astrology SGX Nifty is in a down time cycle atleast till 10th July 2015. (Pullbacks and counter trend moves will come but Major Nifty trend will remains down)

SGX Nifty 22nd April 2015 – Constituents

Within SGX Nifty Banking sector will under perform we don’t see Bank leading the rally and they will be a drag on the Nifty. Oil & Gas space looks to outperform and lead the Nifty pack this time ONGC GAIL are the stocks to watch from this sector. Our Target for Nymex Crude Oil is 72$/BBL and that will support ONGC and GAIL to outperform.

SGX Nifty Long Term View

Longer term we maintain our bearish stance on Indian Equity markets. Major support levels were broken on the way down and this current on going move is just a pullback. As per our Astro charts we don’t see a good harvesting season and sudden changes in climatic conditions will hamper agricultural production. With this background we don’t see pick up in economy to justify current high valuations which are 3-5 years forward in many high quality stocks. Outside Nifty we Maintain our Buy on Sugar Sector. On dips accumulate Bajaj Hindustan, Renuka Sugar and Eid Parry. 

Nifty Trend Yesterday 21st May 2015

Nifty and Sensex were flat on Thursday. Nifty and Sensex drifted lower in dull trade on Thursday. Nifty closed at 8421 Spot Nifty, down 2.25 points over the close on Wednesday. Nifty has recovered much of the losses suffered earlier this month. However, FII’s have not been big buyers in the recent pullback, and that is creating second thoughts about the durability of the pullback.

Investment cycle is yet to show signs of revival. Macro factors are steadily but surely going against India with crude rising steadily over past few weeks and rupee depreciating

Power, oil & gas, metal and FMCG shares were among the under-performers yesterday, while capital goods, auto and realty shares outperformed the benchmark indices.

FII’s net sold about Rs 4350 crore worth of shares so far in May 2015. Quarterly earnings continue to disappoint overall and commentary and the body language is not good.

26 stocks registered a fresh 52-week high today, and 36  stocks fell to a new 52-week low. Amtek India,AGC Networks, Agro Dutch Industries, Ajmera Realty & Infra India, Alembic Pharmaceuticals, LT Foods, DCB Bank, Deep Industries, Fineotex Chemical, Gaytri Projects, Jubilant Foodworks, Krishna Engineering Works, PC Jeweller, Vishnu Chemicals were among stocks which hit 52-week high.

Jaiprakash associates, Jaypee Infratech, Manaksia Aluminium Company, Mangalore Chemicals & Fertilizers,3i Infotech, ABG Shipyard, Adhunik Metaliks, Brandhouse Retails, Cairn India, Dhampur Sugar Mills, Gujarat NRE Coke, Hanung Toys and Textiles,  Rasoya Proteins, TPL Plastech and United Bank of India were some of the notable stocks that hit new lows.

SGX Nifty Live Updates will be given as and when possible.

Good Trading To You!