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SGX Nifty 31st May 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 today was seen consolidating in a small range for most of the day. As per our Nifty Futures tips / Nifty Prediction we maintain our view that Nifty overall will be lower from here rather much lower from here from the next three months perspective and when we say down for the next three months then it does not imply that Nifty Futures can not move a little more higher from here. It can sure move marginally higher in the short term and surprise everyone on the upside but even if the upside surprise does come even in that situation we do not expect prices to hold on the higher side and prices to start moving lower from there.
Regular readers and clients of this website are well aware that when Nifty was at 7000 levels we were consistently saying that Nifty will not move much lower from 7000 levels and head back towards 8000 levels at that point in time most of the traders and investors were asking us all the time what news trigger will come that will take Nifty futures higher by such an extent and we remember telling everyone that it could just turn out to be a “Bina kaaran tezi” That time we were expecting this rally which started on 29th Feb 2016 to end around 8000 levels (give or take a few hundred points). Now the situation is totally reverse or rather it exact replica but on the opposite side. Most analyst and fund managers who were of the view that wait for buying at around 7000 levels are now after 1375 points rally are of the opinion that Indian equities must be bought at all prices and once again we see ourselves in minority. As per our analysis we see that the time to buy is over now and these are not prices to be in buying positions or buying fresh in Indian stock markets, as per our analysis much better prices will come for buying, no need to buy at such hefty valuations. Some of our old customers called us and asked now what trigger will take Nifty lower? and i said it could be a “Bina karan mandi” so Nifty does not require any reason to move up or down. It has a mind of its own.
Important time cycles period is coming up in the next few days and we will keep you posted on that. Be careful in longs the bullish astro cycle is more or less done and we could see the bear attack soon (does not mean tomorrow or next week. Please do not take this as a suggestion for any particular date)
Good Trading To You!