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SGX Nifty 25th Jan 2016
SGX Nifty opened higher today on good over night cues from USA market and then built on the opening gains finally Nifty closed the day higher by almost 2 percent. The behavior by price and volume just once again confirmed our view today and we once again reiterate that use all dips to buy and hold for targets of 8800-9000. This target is a positional trade with a view of 90-180 days and is not for short term. In the immediate term we could see a pullback (minor pullback ) towards the current lows made yesterday 21st Jan 2016 so please use appropriate risk management systems and trade. When to buy, where to buy, how much to buy all details has been communicated to our clients. We reiterate that we do not see prices sustaining below 7300 spot Nifty and it will a great opportunity to buy and accumulate high quality stocks below or around 7300. From a tactical stand point we booked profits today and will be now reentering longs on final confirmation of trend reversal or around / below 7300. So if you are not our client and only trading on the basis of this post please keep in mind I am only sharing my view here from a day to day trading stand point I do get in and get out also even when I am very bullish if I see a minor pullback is possible then I will exit higher and renter lower. So please keep that in mind. Take / Buy positional trading long positions and hold, use staggered manner on dips to enter or enter on consolidation and breakout or at low risk entry points but be on the buying side and please do not try to short sell the Indian Stock Markets on rise as we see a sharp bullish wave that will trap bears of they try to sell on rise. Do not attempt short selling.
SGX Nifty / Nifty Futures Minor Trend is Oversold. SGX Nifty / Nifty Futures Major Trend is up / bullish. As per our Indian Stock market analysis / Nifty Prediction we see month of Feb 2016 being very bullish and on higher side we could see targets of 7600-8050 in the next one month (in Feb series) so use all dips and panics buy and hold equities and keep a overweight of sugar in your portfolio it will do amazingly well. From a stock specific stand point (these stocks are for investment and not for trading purpose) Buy Kesoram Industries, Maharashtra Scooters Ltd, Renuka Sugar, Bajaj Hindustan, EID Parry, NMDC. These stocks will do very well in the coming time. We will also look at a few oil and gas names as we see that sector outperforming the broader Indian Stock markets but wait for now. (Once we get final confirmation we will enter oil and gas stocks also)
Venus moves from Sagittarius (which is a sign of exaggeration, excesses ) to sign of Capricorn (much more restrictive) so this will also start reducing volatility in the Global stock markets. On Monday 25th Jan 2016 Mercury goes direct and this will will reduce the sharp volatility we have been seeing. In a nut shell we see volatility reducing and we see targets of 8800-9000 over the next 90-180 days. Further we could see a minor dip towards 7300 or bit lower than than also during this week, but we will be buying on the lower side as overall we are very bullish.
Nifty spot support and resistance for tomorrow 25th Jan 2016 is at 7211 and 7522.
Good Trading To You!