SGX Nifty 30th July 2015

SGX Nifty

74.30

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 30th July 2015

SGX Nifty Trend today was flat to positive after four consecutive days in the red Nifty finally managed to close marginally in the green today.Overall Nifty consolidated the day between 8332-8382. Finally Nifty closed the day up 38 points at 8375. (Nifty 50 Spot Levels Mentioned)  Today Nifty formed a inside bar and has no real significance in the main trend analysis.  SGX Nifty Minor Trend is down and SGX Nifty Major Trend is also down.  On any pullback it will be prudent to exit trading longs from Nifty / Nifty Futures. Nifty has resistance at 8471-8440 for 30th July 2015 and Minor support is at 8299-8315. Break below 8299 will open gates immediately for 8125 (Nifty 50 Spot Levels Mentioned)  It is amply clear that down cycle which started from 4th March 2015 has now resumed and since we have got confirmation of Inversion both price and time extension is expected on the lower side. (Details of targets and time have been given to clients). Today evening FOMC will be deciding on rate hike cycle. It is important to note that commentary will be very important. We are expecting FED to begin rate hike cycle from September 2015 but latest data shows good pick up in the US economy and hence FED may surprise everyone and begin rate hike in Aug also. (We see Sept rate hike as per astro cycles ). Anyways Nifty has been   making lower tops and lower bottoms and till that structure is not changed we do not recommend to Buy into Equities / Indian Stock Markets baring the sugar sector. Once again we are saying “Khyali Pulao that Economy will turn around is non sense”. On ground situation has got worse over the past few days and we do not see Q2 numbers being better than Q1 that’s being reported as of now.

SGX Nifty 50 Components

Bosch, HCL Tech, Yes Bank, Tata Motors, Infosys, Zeel, Lupin, BHEL, Maruti and LT were leading the Nifty 50 today while Tata Power, Punjab National Bank, State Bank of India, ITC, GAIL, Reliance Industries, NTPC, Grasim, Dr Reddy and Powergrid were lagging the Nifty 50 today.  Yes Bank Q1 profit was up 28% percent but as we have been saying provisions have gone up and that is not good for longer term story. You can not have economic recovery with NPA’s going up.  

Bank Nifty / Bank Nifty Trend / Bank Nifty Prediction / Stock Market Tips for 30th July 2015

Bank Nifty also had a flat day and ended in the green by 40 points.  Yes Bank was the top gainer from the sector while Bank of India was the top loser.  Bank of India achieved our target of 149 today. However there is no change in structure and chart does suggest further downside is likely.  Axis Bank and Icici Bank also managed to close in the green.

Bank Nifty Minor Trend is down. Bank Nifty Major Trend is also down.  Overall we do not see Bank Nifty heading higher and we do not recommend any long positions in Bank Nifty as of now. Wait for lower levels.

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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Stock Market Tips For 30th July 2015

29/07/2015, 9:21 AM – glen adv: Gm Hold Nifty Aug 8600 Put 2 Parts & USDINR 2 Parts Till Next Update.

29/07/2015, 1:24 PM – glen adv: Hold Nifty Aug 8600 Put 2 Parts & USDINR 2 Parts Till Next Update. USDINR Revised TGT 64.42 Spot

29/07/2015, 1:28 PM – glen adv: Nifty consolidating nothing much to update. Trend remains down. Both Minor Trend is down and Major Trend is down. As a rule longer the consolidation more powerful will be the breakout from the range. Nifty has support @ 8299-8315. Break Below 8299 opens gates for 8125 immediately

29/07/2015, 1:30 PM – glen adv: Since expiry is tomorrow till tomorrow first half Nifty could just move sideways and then begin sharp fall

29/07/2015, 1:33 PM – glen adv: It is likely that Fed will guide for a rate hike in next 60 days that will put pressure on all EM Currencies and EM Stock Markets. Overall our view is the same down cycle which started from 4th March 2015 has resumed