SGX Nifty Nov Futures
SGX Nifty / Nifty Future 26th Nov 2015
SGX Nifty / Nifty Futures Minor Trend is neutral. SGX Nifty / Nifty Futures Major Trend is up / bullish. Nifty support and resistance for tomorrow is at 7740 and 7930. Nifty Spot move past 7930 confirms a higher bottom at 7728 and also opens gates for 8600 in Dec Series. We reiterate our view that Nifty risk reward as of now favors buying the dips and does not favor selling the rise as most traders and investors are totally holding net short positions. There is a total consensus trade being played out in Indian Stock markets if you call any person and see his view 99 out of 100 will say 7400-7200-6800 and some even 4500.
As per our Indian Stock market Analysis / Nifty Prediction we do see 7400-7200 but not now, before 7400-7200 comes we reiterate we will see one bullish cycle or tezi cycle which will take Nifty towards 8600. The Share Market News flow could be passing of GST bill or some other trigger. Frankly I do not know what will trigger the up move / bullish cycle as we always maintain Share Market News is a lagging indicator. The people who make the news are already positioning themselves to en cash / profit from the positive event well in advance and that can be clearly be seen from the price and volume charts. As of now Nifty Charts are clearly indicating that we are in the process of making a higher bottom and we do not see any significant downside from current prices. Few 100-150 points here and there volatility is possible but we do not see Nifty sustaining on the lower side and dips have to be bought into. If you are short for any reason then please keep 7930 spot Nifty as your trailing stop loss as once 7930 will get crossed we will see sharp massive short covering rally. Open interest positions clearly indicate that Janta is short and sentiment is extremely one sided. All current negatives are in the price but no one is talking about any positive news. India Growth Story has gone to the dumps . Anways does not matter as per our analysis we see Nifty heading for 8600 and don’t see any significant downside from now on.
SGX Nifty / Nifty Futures trend today was flat. For most part of the day Nifty was stuck between 7870-7813 spot Nifty level. Volumes were very low considering there is only one trading remaining for Nov Series Expiry. We have rolled over our 2 Parts Nifty Nov Futures longs to Nifty Dec Futures. More updates will be given tomorrow.
SGX Nifty Futures / SGX Nifty Charts / SGX Nifty Live updates are given below for ready reference.
Good Trading To You!