SGX Nifty 28th July 2015

SGX Nifty

-178.32

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 / Nifty Trend / Nifty Prediction / Stock Market Tips for 28th July 2015

SGX Nifty Trend today was down from the word go. Nifty collapsed by 160 points to close the day at 8361. The fall today was led on the news of P-Notes and this came as a surprise to many in the Stock Markets however we had very clearly stated in our weekend post and in Thursdays post (on 23rd July 2015) That Venus and Uranus are changing directions and this has very high correlation to tops / crest  being formed in World Stock Markets. Uranus changing direction has even higher correlation to tops / crest being formed in Indian Stock Markets / SGX Nifty. We had clearly mentioned that this geocosmic signature has a tendency to force a gap down in the stock market / SGX Nifty and then continued selling is seen through the day. So the markets played exactly as we were anticipating it to be.  We reiterate to use any pullback to exit trading long positions and we reiterate our view to remain light in the Stock Market. If you have delivery long positions then it would be prudent to hedge the risk by buying Put options to lower the risk of any steep fall that may be seen over the next few trading days. 

SGX Nifty Minor Trend is down. SGX Nifty Major trend is also down. Overall we maintain as per our analysis SGX Nifty / Stock Market has made a top at 8672-8550 (range as we were anticipating after wave got split, details of which were given in 2nd July 2015 post, please refer if need be http://www.mallavv.com/sgx-nifty/sgx-nifty-2nd-july-2015.html (password is reliance123) ) and now the down cycle started from 4th March 2015 will resume (It is clear that it has already resumed) Since inversion has been confirmed SGX Nifty will be extending down cycle both in terms of price and in terms of time. (Details of the current cycle have been given to clients via whats app) Password protected post will also be updated for further details later during the week. 

SGX Nifty Components

As the color of the text suggest it was a sea of red today. Tata Steel and Hero Motors were seen leading the down move today with both counters falling 5 percent.  Axis Bank, ONGC were also lagging the Nifty today.  The advance-decline ratio today was clearly  in the favor of declines with 1741 shares declining to 1083 shares advancing.  Tech Mahindra, ZEEL, Bajaj Auto and Asian Paints managed to buck the trend today and were in the green.  On the loosing side Tata Steel, Hero Motors, Hindalco, Axis Bank, Cairn India, ONGC, Bharti Airtel, Tata Motors, Lupin and Vedanta were leading the decline.

USDINR Update

USDINR as expected touched our target of 64.18. We now are in wait and watch mode as dolor index is having a set up that could take it towards 120 and if that happens expect super fast depreciation in the INR here. All Emerging Market currencies will go for a toss if that happens.  As of now the trend remains up and our advice remains the same to be hedged. Overall longer term our USDINR target remains in the range of 68-72.

Crude Oil Update

Nymex crude oil has support at 46 and resistance at 72. For this financial year we see Crude Oil to be range bound between these two prices. Buy near 46-48 and sell near 72.

SGX Nifty Chart is enclosed below.

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