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SGX Nifty Live
SGX Nifty 24th Feb 2016
SGX Nifty / Nifty Futures did a nose dive today once again sending panic in the investors camp. Nifty spot closed the day lower at 7109 down 125 points. We once again are clearly mentioning that we do not see any significant downside and as per our Indian Stock Market analysis / Nifty Prediction we see that bottom made on 11th Feb 2016 is intact and we do not expect now 6790 spot Nifty to be broken. We are very clear that before we see the final bottom of 6300-5800 range we will first see a bullish cycle which will take Nifty towards 8800-9000 and post that bullish move we will see a sharp fall, as per our analysis we do not see direct fall from here and we are very clear that Nifty will start a bullish cycle move anytime and take Nifty higher towards 8800-9000. The bullish sentiment at that juncture will be so powerful that at that point in time no one will be willing to book profits, forget short selling the Indian Stock market at higher levels. We once again reiterate that this dip or current price will in hind sight look like a great buying opportunity and this bullish cycle will last till Aug 2016 or 8800-9000 area. Once again we are saying this please revisit the sentiment at 9000 it was exactly the opposite and in my trading life of past 10 years I have never ever seen that extreme sentiment trade works. Whenever 100% of the Janta view is the same it never will happen that way. Like as of now everyone is talking about 6500 and 6300. Sure 6300 will come I am not denying that in fact even 5851 will come but before that final bear cycle comes we will see a massive “Bina kaarann tezi cycle” which will be very similar to the 1999 boom of dot com. Everyone on earth from your chai walla to the pan walla will start talking about 10500,12500 at that juncture this bullish cycle will end not before that. Use this dip to buy high quality stocks preferably without debt and hold for higher side targets. We have been guiding here for free so please understand once again DO NOT BUY CALLS, IV’s and time value is very high rather once again we are saying selling puts of March and april will be the safest trades.
Buy MSL, Kesoram, NMDC, Renuka Sugar, Bajaj Hind, EID Parry, Tata Coffee for medium term delivery and hold. As per our analysis all these stocks will do very well in the time to come and we will see good returns in these stocks by the time Nifty ends its bullish cycle. Use all dips to buy and hold and I do not know what share market news will drive this crazy bullish move (all I know is that it will happen and will happen anytime now) which we are about to witness. Rather I would put it this way most people were willing to buy at 9000 then why not buy today? If the analyst who were telling you to buy at 9000 were totally wrong (please see cnbc tv 18 archives every analyst was bullish) and now please see all of them are bearish so as per theory of repetition we will see these analyst going wrong again, rather perfectly wrong again. Further all the stocks we recommended from our initiation price except kesoram all are still above our initiation price or at our cost price. We keep saying just follow what we are recommending and do not do any interpretation trades. Now is not the time to buy for longer term but please be sure to play this rally we have asked our clients to move back to Indian Equities from fixed income (at 8950 we asked to move to fixed income) and we said this around 7200-7300 levels and we maintain that for this trading rally only we must hold equities. The day Janta starts 10500 we will get back to fixed income at that juncture. Do not try to short sell rather buy on dips at appropriate points.
SGX Nifty / Nifty Futures Minor Trend is neutral. SGX nifty / Nifty Futures Major Trend is bullish. Nifty spot support and resistance for tomorrow 24th Feb 2016 is at 6950 and 7355.
Good Trading To You!