SGX Nifty 2nd June 2016

SGX Nifty

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty

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SGX Nifty 2nd June 2016

PLEASE NOTE THAT THIS IS MY OVERALL VIEW ON THE NIFTY AND THAT DOES NOT MEAN PRECISE ENTRY AND EXIT POINTS WILL BE MENTIONED IN THIS POST.  IF YOU ARE TRADING ONLY ON THE BASIS OF THIS POST PLEASE USE APPROPRIATE RISK MANAGEMENT AND THEN ONLY TRADE.

SGX Nifty / Nifty Futures continued its consolidation after the sharp run up last week.  As per our Nifty Prediction / Nifty Futures Tips given to our clients we see significant resistances around these prices (around these prices means minor variable are allowed). Overall there are way too many indicator systems that are showing us that more or less we are almost at the top area. It does not make any sense to buy fresh here as per our analysis.  Once again we point out that Rahu (North Node) is controlling the rally till now and it has a great deception character so at 7000 levels it has deceived everyone into shorts thinking that 6500 will come and now it is about to deceive everyone into longs and make everyone think that 8800-9000 or new highs will come. We do not see Nifty Futures directly moving towards 8800-9000 area sure those levels will come but before that happens we see a down move and then the bull run will resume again. For the time being we very well know that patience is being tested and it could be further tested for this month also so have plenty of patience if you are following our way of trading. 

This is what we had mentioned on 16th Feb 2016

“Rahu (North Node) which is a master of deception will start creating froth, hyper valuations, sharp bullish moves which will come out of no where”  Read the full post here

This is what we has mentioned on 15th Feb 2016

“We do not see any major improvement in the Indian economy nor do we see corporate results improving we just see valuations expanding and we just see euphoria in stock prices there by leading to froth formation and sky high valuations so once again understand it will just be a “Binka kaarann tezi””

If you go back and read our previous post you will see that the current scenario has been predicted by us well in advance.

Good Trading To You!