Error parsing: Query returned empty response
SGX Nifty 30th March 2016
SGX Nifty / Nifty Futures was seen consolidating in a small range between 7652-7580 finally Nifty closed the day lower by 18 points to close just below 7600 spot Nifty levels mentioned. As per our Nifty Prediction / Indian Stock Market tips given to our clients we once again reiterate our view that as of now it does not make any sense to be in buying positions in fact from a tactical stand point traders must short the rally during intraday pullbacks or any kind of bullish moves if we do get them but buying on dips must be avoided at all cost. (Buying will be done again but at lower levels so till then instead of just waiting for our lower side targets it is better to trade on the short side and then once again get into buying positions at lower levels. When to buy, where to buy, what to buy, how much to buy all details will be given to our clients live during Indian Stock Market hours. For now we see a correction of the entire move of 6825-7740 spot Nifty levels (we were expecting this scenario to play out and hence we got out of all trading long positions last week itself )so once this correction of the X wave takes place then we can get into buying positions once again but for now buying is not advised and if we do get low risk entry points of consolidations or pullbacks towards appropriate resistance points then in that case we will be on the selling side. So if you do get any pullback in the Indian Stock Markets / Nifty Futures then be on the selling side but only from a near term perspective. Nifty Spot resistances are at 7800-7740 area and we do not see that area being tested nor do we see any significant pullback in the Indian Stock Markets / Nifty Futures.
During this correction of the move form 6825-7740 use this correction to buy MSL, Bajaj Hindustan, Renuka Sugar, EID Parry, NMDC, Kesoram, Tata Coffee as we see a very good time cycle for these stocks in the coming time. We see all these stocks outperforming the broader indices but please keep in mind that these are investment calls and please do not treat them as trading calls these stocks are a buy and hold and keep accumulating on dips segment. We do not recommend to trade in and out of these stocks.
Nifty spot resistance and support for tomorrow 30th March 2016 is at 7740 and 7410.
Good Trading To You!