SGX Nifty 23rd 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 23rd Feb 2016

SGX Nifty / Nifty Futures today opened on a positive note today following good global cues and was further supported by positive European cues but SGX Nifty / Nifty Futures was clearly seen under performing the Global Stock Markets.  

SGX Nifty / Nifty Futures Minor Trend is bullish / up and SGX Nifty Major Trend is also bullish / up. As per our Indian Stock Market analysis / Nifty Prediction we are not expecting any significant downside now and we are clear that more or less the bottom is in place and until and unless 6790 is taken out for 4 trading days (means Nifty does not close below 6790 for four trading days) our view remains that Nifty will move higher and create a euphoria and then resume downside. Please understand our view correctly we are clearly saying longer term there is significant mandi and bear cycle remaining to be played out but for the short term we see a bullish move that could move higher and create a fast bullish cycle move that will force most of the Indian stock market participants into full bullishness and everyone will talk about 10500, 12500 like everyone in the analyst fraternity are now talking about 6500 and 6300 right now. So once there is a total consensus from the general public and you start seeing more advertisement on TV saying “Buy right and sit tight” then its time once again to get out from the markets.  Also it needs to be understood that purely from a wave perspective the current ongoing move up will be a corrective wave it will and hence once over we can expect a resumption to the bear cycle.  There is also a possibility of the current move also getting split and hence we will keep updating our clients about the same. (If you are only trading on the basis of this post kindly use appropriate risk management systems and then only trade)

Nifty spot support and resistance for tomorrow 23rd Feb 2016 is at 7147 and 7320. Use dips, consolidations and low risk entry point to buy and hold high quality stocks preferably with no debt and hold them for the bullish cycle during the budget or around the budget session it is possible to see volatility and during the panic or dip in that round also accumulation can be done as we do not see Nifty closing below 6790 for four trading days and we see Nifty moving higher and sucking the last bearish guy into talking bullish. Only after the last bearish guy becomes bullish will the bull cycle end. This down cycle as per our analysis using a combination of astro cycles and time cycle and using elliot wave systems shows us the final bottom for this market will be around 12th-26th Dec 2016. So around 12th-26th dec 2016 we could be in between 5851-6300 but in the interim now we do not see further panic and we see bullishness (please keep in mind during the budget speech or just post the budget as per time cycle a panic is possible hence during that panic buying must be done in a staggered manner as holding 6790 we see up move and then again fall towards 6300-5851 area)

Good Trading To You!