SGX Nifty 24th Nov 2015

SGX Nifty Nov Futures

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SGX Nifty

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty / Nifty Futures 24th Nov 2015

SGX Nifty / Nifty Futures Minor Trend is neutral. SGX Nifty / Nifty Futures Major Trend is up. As per our Nifty Prediction / Stock market analysis we do reiterate our view that we do not see any significant fall in Indian Stock Markets or Global Stock markets. The risk reward ratio favors buying the dips and we are advising / recommending the same to our clients. Today SGX Nifty / Nifty Futures today open flat in line with Asian Stock Markets and remained flat for the first half of the trading day lackluster in a range between 7876-7846, in the second half Nifty did test 7828 and we did a intraday trade. Nifty has given secondary confirmation that pullback that started from 8338 is coming to a end and we are now awaiting final confirmation which will come once 7930 spot Nifty level is taken out. There are a few more criteria also which need to be completed and it is not just price moving above 7930 spot Nifty which will give final confirmation of trend reversal and in other words means once 7930 is taken out 8600 is our target and Nifty is confirming and telling you that yes being long from lower levels and buying dips is the right thing to do.

Yesterday Sun has entered Sagittarius which is ruled by Jupiter and Jupiter represents expansion, exaggeration and excessiveness. As of last week Nifty made a low of 7728 on 16th Nov 2015 then has started moving higher. Traders and investors who follow our post on a regular basis may recollect that last week was a critical 5 star reversal week and more often than not whenever there is 5 star critical reversal zone it always ends primary cycles and generally not as a rule but yes generally does change the trend or ends pullbacks so it will be safe to say that higher bottom is in place once 7930 is taken out.

On Wednesday is full moon and we could further see that amplifying the bullish energy. Nifty support for tomorrow 24th Nov 2015 is at 7810 and 7930. Once again we are clearly saying move past 7930 will create a massive short covering rally and we do not see any significant downside once 7930 is taken out higher bottom confirmation will be in place. The basis of all technical analysis is swing tops and bottoms and if 7930 is taken out it will confirm a classic higher swing bottom is in place and short sellers will be trapped if appropriate exits from overall short positions are not taken and the most interesting part is that entire world is short in Indian Stock Market from Janta to FII’s all FII’s have been trimming India positions and whenever the sentiment is so lopsided Nifty will always move in opposite direction to their positions. On Nov series expiry day Thursday 26th Nov 2015 Saturn will square Neptune and that is also going to add to short covering energy. Nifty Nov series target is between 8000-8100 and Nifty dec series target is 8600.

SGX Nifty Futures / SGX Nifty Charts / SGX Nifty Live updates are given below for ready reference.

Good Trading To You!