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SGX Nifty 28th June 2016
SGX Nifty / Nifty Futures today had another day of consolidation. Today due to some system issue we could not send any message out post 11.30 am IST. We still have not been able to fix the issue and will take some more time. As per our Nifty Prediction / Nifty View we can clearly see that Nifty charts had a faster down ward retracement and that means that a new trend has started. On Thursday Nifty towards closing was almost nearing 8300 and there was total consensus among the various Fund managers, Traders and other investors that Brexit will not happen but it did happen that is a perfect Rahu (North Node) deception signature. Rahu (North Node) forced everyone to believe that Brexit will not happen and then turned the opposite way. He ensured that Brexit took place. Even now most people and analyst and fund managers we have spoken to keep telling us that this was just another wall of worry that market will climb but in reality most people are missing the point. Regular readers and clients of this website are well aware that at 7000 Nifty levels we did not know what news will come and we had predicted Nifty to come back to 8000-8250 in a same way Nifty Charts are clearly indicating that Nifty will come significantly lower from here. We do not know the news flow what will follow but we are very clear that we will see significantly lower levels from here. We once again reiterate that these are prices to sell and not prices to buy. Risk reward ratio does not favor buying at such prices and such hefty valuations. In our historical studies we have not seen any investor buying at such hefty valuations and making money. Fixed income has always done way better than buying at such valuations. Nifty will eventually collapse and Brexit or some other news will just act as a mere trigger point for that sharp fall. There are way too many indicators and systems telling us that bulk of the news of good monsoon or GST bill being passed has been adjusted in the prices but none of the negatives are in the price as of today. Keep in mind that China has been relatively calm for the past few months and post 4th July 2016 we see many new problems coming in from China also. Looking at all these factors we do not recommend to initiate fresh longs at current prices. Our buying call on sugar stocks continues to do very well keep accumulating them on dips. Renuka sugar, Bajaj Hindustan, Eid Parry, Tata Coffee, Msl will all do very well in the coming time. We see deep value in all these stocks. We in final stages of shortlisting new multi bagger call. We will update our PAS clients when we do so.
Astro cycles are showing us that Nifty is about to crash and under perform the world markets in the coming time. Most people think India is a bright spot in the Global economy but we do not think so. As days go by Indian macro situation as per our analysis is going from bad to worse and whenever we have a global back drop of uncertainty we have more problems to deal with.
Good Trading To You!