SGX Nifty / Nifty Trend / Nifty Prediction / Stock Market Tips For 26th June 2015
SGX Nifty / Nifty Trend Today (25th June 2015) was positive. SGX Nifty opened lower at 8336 then made a low of 8330 and then pullback towards end of trade towards 8419 and closed at around 8400. Nifty closed with a gain of 37 points today (Nifty 50 Spot Levels Mentioned). Bajaj Auto, GAIL, Larsen (LT), Cairn India, Vedanta, HDFC Bank, Indus ind Bank, HDFC Ltd Lupin and Tata power were outperforming Nifty 50 while Tech Mahindra, Wipro, ONGC, Cipla, Hindustan Uniliver, HCL Tech, Icici Bank, Tata Consultancy Services (TCS) Asian Paints and Bosh Ltd were underperforming Nifty 50.
As per our analysis Nifty spot will face resistance around 8500 (Nifty spot level mentioned) mark and we do not recommend to Buy at current juncture. We are very clear that this current move is a pullback and this rise should be used to book profits and exit long positions. As per our Nifty Prediction / Nifty trend both main and minor trend remain down. We maintain our target of 7899 Min by 15th July 2015. Overall on upside towards small stop loss points or low risk entry points we must use rise to sell. For next 2-3 days Nifty could be very volatile due to Scorpio moon and during that volatility it will be best to trade in and out. Positional trades should be done via options only. We do not see significant upside from current levels and risk reward is not in favor of going long / Buying from current prices.
USDINR Trend for 26th June 2015
USDINR longer term trend remains up and we have been advising / recommending importers to be hedged and our view remains the same. Overall USDINR can cross 65 within this round by around 15th July 2015 after which some minor pullback is expected. It will be very interesting to see USDINR behavior after Jupiter changes signs and enters Leo. Sign of expansion. On lower side USDINR has support at 63.20 Spot and we do not think that support will break in a hurry.
Gold Update Till 15th July 2015.
Gold and Silver will also enter bullish phase from 15th July 2015. Those who want to Buy physical Gold should do so at current prices as we see Gold going towards 32000 In MCX soon. Short term traders may keep a watch on Gold for next 2-5 trading days as we see some kind of bullish move possible taking it to 27144.
Sugar Sector Update
We maintain our Buy / Accumulate in Sugar Sector. Reiterate our Top picks in the Sector remain Bajaj Hindustan, Renuka Sugar and EID Parry. We have been advising accumulating these stocks as on 10th July 2015 a major down cycle ends in sugar stocks and a major bull cycle will begin taking these stocks to 5 X returns minimum till 2019. We do not see such a powerful investment opportunity in Indian Stock Markets for now at least. Once again we Reiterate Accumulate on all dips.
For details of our portfolio advisory services or Nifty 50 advisory services feel free to call me on 9222294707.
Good Trading To You!