SGX Nifty 29th July 2015

SGX Nifty

188.17

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 29th July 2015

SGX Nifty Trend today was down. Nifty overall had a volatile day today. Nifty opened 8376 then made a high of 8398 and then started falling to make a low of 8324. (Nifty Spot Levels Mentioned). Nifty finally closed at 8337 down 24 points.

SGX Nifty / Stock Market Minor Trend is down. SGX Nifty / Stock Market Major Trend is down. Overall we maintain our advice / recommendation to use pullbacks to exit trading long positions for now. We reiterate our view that we will get much better prices and lower valuations to Buy delivery at a later stage. Since inversion has occurred price and time both will extend on the downside.  Hence as per our analysis down cycle started from 4th March 2015 has resumed and details of this current cycle have been given to clients via what’s app messenger.

SGX Nifty resistance for 29th July 2015 is at 8456 and SGX Nifty support for 29th July 2015 is at 8299-8315. (Nifty spot levels mentioned) If there is consolidation around 8299-8315 for 2-3 hours and then it breaks down below 8299 then expect the following down move to be faster than current fall that ha happened.  Anyways the important point is I do not expect the support to hold for long and if it consolidates around 8299-8315 then it will be further confirmation of our analysis. Overall we do not see Nifty / Stock Markets susutaining on the higher side and it will be safe to sell SGX Nifty on rise or pullbacks towards small stop loss points. Nifty has made classic lower top and lower bottom formation and until that is disturbed we do not recommend to jump and buy.

Nifty constituents.

Punjab National Bank, BHEL, NTPC,  Kotak Bank, Yes Bank, Bank of Baroda, HDFC bank, Indusind Bank, LT and Axis Bank were in the green today while NMDC, Hero Motors, Asian Paints, HDFC Ltd, Dr Reddy, Icici Bank, Tata Motors, Ambuja Cements, Idea and Bharti Airtel were in the red today. 

USDINR Update

USDINR today Trend today was down. Reserve Bank of India was seen intervening today in a very aggressive manner but that does not change the trend nor will it change $ index chart which is about to decide teh fate of emerging market currencies in the short term. We expect Fed to increase interest rates form Sept 2015 and that will mean $ index will see breakout sooner than expected. USDINR trend remains up and if we get confirmation thsi week we could see USDINR touching 64.42 Spot levels also. Importers are advised to remain hedged.  

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.

For details of our advisory services please feel free to call me on 9222294707.

Good Trading To You!