SGX Nifty 25th May 2015

SGX Nifty Futures

161.77

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 25th May 2015

SGX Nifty yesterday (22nd May 2015) continued its pullback, As per our SGX Nifty Prediction and Nifty Trend Minor Trend is up however major trend remains down and current pullback will get over between 8550-8750 Nifty Spot levels mentioned. We once again maintain and Reiterate our view to use pullback to lighten positions and move to cash. Exit stuck positions in Futures segment and on upper side professional traders must short sell Nifty Futures at appropriate levels with small stop loss for targets of 7631 and then may be even 6800. SGX Nifty today has support at 8325-8375 and on a dip traders can look to buy for targets of 8550. We will trade this only if we get small stop loss point. (Please keep in mind this is just a pullback) As per time cycle we maintain SGX Nifty is in a down cycle at least till 10th July 2015. Around 10th July 2015 we expect Nifty to be in the range of 7215-6800 Spot Nifty Levels mentioned.

SGX Nifty Constituents 25th May 2015

Bank Nifty will underperform SGX Nifty Futures. For More details on Bank Nifty click Here. Oil & Gas looks like it will outperform since as per our analysis Crude is headed for 72$/BBL. Stocks to watch in this sector would be GAIL and ONGC.

USDINR looks like will have a minor pullback towards 63.20 spot our advise to impex traders is to hedge positions as over all in the short term we see USDINT spot touching 65.30-65.41

As per our time cycle and astro cycle forecast we don’t expect a good harvesting season this year and that could put severe pressure on food inflation. With this kind of macro picture I don’t think Equities are a good place to invest at these valuations which are on a average 3-6 years forward. We maintain our bullish stance on agri commodities and maintain to Buy and accumulate Sugar stocks on all dips and declines. Our top picks in the sector are Bajaj Hindustan, Renuka Sugar and Eid Parry. As per our analysis we see these stocks giving 5 X returns over next 3 years i.e. by 2019. Shree Renuka Sugars soared 4.1 percent at Rs. 11.87 on recording a net profit of Rs. 4.3 crore in Q4FY15, as against a net loss of Rs. 88.3 crore in Q4FY14.

SGX Nifty Longer Term View.

We maintain our bearish stance on Indian equities for now citing deteriorating macro picture, on the technical side Nifty Futures broke extremely crucial supports on the way down from 4th March 2015 and unless and untill Nifty Futures makes a higher top and bottom structure we are not advising trying to bottom fish with the exception of sugar sector. We will review this around 10th July 2015. Better to be safe than sorry.

Will Provide more detailed update later by Sunday late night or Monday 25th May 2015 early morning.

Good Trading To You!