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SGX Nifty 24th Oct 2016
SGX Nifty / Nifty Futures continued its consolidation along expected lines and as per our understanding of the current wave and astro cycle we see that this consolidation is about to end shortly and post that a volatile move with a downward bias will resume. It is important to keep in mind that the overall down move target is 5872 and we know that no one in the market is predicting this for now, many people will predict or pretend to predict later on but for now everyone will talk about 10500 and 12500 but we do not see that taking place now.
From a investors perspective investors should always look for value and we do not see much value in the overall markets. Most stocks are richly valued at current levels and we do not see any investor making any money over the next one year by buying stocks at such hefty valuations and we say this because future is nothing but a repeat of the past and there is nothing new under the sun so if in the past no one has made money in the markets by investing at such hefty valuations we do not see how those investors who buy at current valuations will ever make money.
Silver will do very well in the coming time and we remain bullish on it. On panic we will be buying and yes in that panic we could see some lower levels so when to buy where to buy how much to buy etc all details to our clients.
Overall as far as the Nifty goes in the near term we expect choppy moves to begin and once again we reiterate that prices will keep moving in a choppy manner and no single direction trend will be seen. Sharp zig zag moves will be taking place and we do not see upsides sustaining but neither we see a one sided fall in the near term. There are lot of people who believe that near term bottom is done at 8506 area but we do not feel so as the major parameters that we track are not showing the same.
Good Trading To You!