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SGX Nifty Live
SGX Nifty 29th March 2016
SGX Nifty / Nifty Futures today opened higher after a 4 day long holiday and in the morning everyone were talking about 8000-8250 however Nifty since morning was indicating that trend is about to change to the downside and we had in fact seen this very probable move last Monday and hence we had exited all our trading long positions last Monday itself. What we were not clear till yesterday was that Nifty will move to 7800 and then begin correction of the entire move from 6825-7740 or it will do so from current prices itself also what was not clear was the extent of the downside. Now we have clarity on both these counts and in fact today we have initiated 1 part positional shorts and on rise if any we will sell more or on small stop loss points or on consolidation we will sell more. Regular readers and clients of this website are very well aware that we had clearly predicted that Rahu ( North Node) is controlling the current move and since now everyone has become bullish all of a sudden it is very high possibility that Nifty will reverse the trend as Rahu (North Node) is just playing a master deception move. We had also clearly mentioned that over the long weekend there are 3 major astro cycle indicators which have a probability to change the trend and in our historical studies they are all level 1 signatures which means that they change the primary cycles trend or have a more than 85 percent probability to change the trend of the on going wave. There were three of these level 1 astro indicators present over the weekend and today was a lunar cycle topping day also so since all the criteria s are complete now we can safely say that 7740-7780 is a good resistance area and we do not see that area being taken out easily now (it will be taken out but not now)
SGX Nifty / Nifty Futures Minor Trend is bearish / down. SGX Nifty / Nifty Futures Major Trend is also down / bearish. Use all rises to exit your trapped trading positions if any. Do not try to bottom fish in this current market for now.
If we look at the entire structure from a wave perspective the previous wave speed was that of a corrective and currently the move has been much more faster than the previous move which means that the move has retraced the previous three days move in less than one trading day which means that in the near term a top is in place. We will update more details on this later in the next few trading days.
Good Trading To You!