Error parsing: Query returned empty response
SGX Nifty 28th April 2016
SGX Nifty / Nifty Futures traded flat for most of the day within a small trading range. As per our Nifty Futures Tips / Nifty Prediction we do not see Nifty Futures moving much higher from here and we reiterate and maintain our Nifty view that these are prices to sell and not prices to buy. The rally that started from 6825 on 29th Feb 2016 is more or less done and now for investors is the time to take money off the table and for traders it now time to short sell Nifty Futures and even Bank Nifty. Bank Nifty has resistance at 17100 spot Bank Nifty Levels mentioned. Public Sector Banking and Private sector banking both must be strictly avoided. These Banks have many more problems which will start getting reported in the next few months and that will surely make these stocks ugly. Extreme caution is advised in the Banking sector.
When we look at the Nifty Chart on a day to day basis all the time frames from daily to hourly are communicating fatigue. In addition to this clear visual signal all other parameters are showing us clear danger signs. Yesterday we did mention about the Gann 50 percent rule of larger move and that resistance comes to near about 7972. (Please make a note Ganns rule does not anywhere mention that that will be the exact top, there are some other methods to confirm the top so kindly do not say if 7980 comes then please do not conclude that area has been crossed) Yesterday also we discussed VIX so that is suggesting that world is a great place to buy risk on assets but in reality it is not so.
Tomorrow 28th April 2016 Mercury goes retrograde in Taurus and as regular readers and clients of this website are well aware that Mercury rules communication and Taurus rules banking. Also this is a astro cycle that takes place generally every 7-9 years (since this time around May 9-10th there will be a mercury eclipse also). We do expect many false information / news to be spread around this time so do not jump when you get a whats app forward saying “GST Bill passed” as Mercury Retrograde in Taurus has a very high co relation to false rumors especially with respect to banking and taxation policy. What does it mean for the equity markets? It means that Nifty Futures will move back and forth every 1-5 trading days so we are not expecting a straight fall. Sure the fall will be there and every few days we will have multiple pullbacks on Nifty Chart / Nifty Share price. This when we see on longer term time frames will just in hind sight turn out to be pullbacks. So keep in mind the ideal trade will be to sell higher and then once again cover lower and on pullbacks once again sell.
During this down move investors must accumulate sugar stocks especially Bajaj Hindustan, Eid parry and Renuka Sugar. Also traders can buy our other stock which we are not updating on the website. Bottom line from a trading stand point do not remain long at all.
Good Trading To You!