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SGX Nifty 3rd May 2016
SGX Nifty / Nifty Futures today was sideways within a small trading band. As per Nifty Futures Tips / Nifty Prediction given to our clients we maintain our Nifty view that on rise or pullbacks traders must short sell and investors if are still holding positions in their portfolio must exit from them and be on as much as cash as possible in fact we have told our clients to move our of equities and move to liquid funds as that will give us a better rate of return for the time being. As of right now as per astro cycle there are many events taking place in the cosmos. There are total of 5 planets which are currently undergoing retrograde motion and Jupiter will be going direct shortly in the next week on 9th May 2016. Also around 9th May will be the Mercury retrograde mid point (in addition to that Mercury eclipse will also take place around those dates) and that could have some pullback implications so keep in mind that if we do get any pullback that will be to get out of longs and initiate short selling positions in Nifty Futures.
Nifty Chart is clearly indicating that more or less the top is in place and we are awaiting final confirmation for upper side gates to be closed. Once we do get that confirmation then aggressive short selling positions can be taken in Nifty Futures or even on intraday pullbacks which could keep coming thanks to Mercury retrograde must be used to short sell Nifty Futures. Please stay away from Banking sector as that and metals could lead the downside move. Do not even try to bottom fish in banking stocks as all of them both private sector banks and public sector banks will fall significantly from here also.
Many clients and friends have been asking us about crude oil since the past few days. Regular readers and clients of this website are well aware that when Crude Oil was at 26-27 range we clearly said that this area is the bottom for crude oil and now we see upper side area of 48-49. Now we are almost at the upper end of crude oil range for the near term and from here we do see 38$/ BBL so on rise please exit crude oil if you are long. Please keep in mind that a minor topping process could be seen this week too in crude oil as Jupiter is co ruler of Crude Oil prices and historically Jupiter direct has always just before going direct rallied (but for now most of the rally is in the price) what could be the implications for the Indian Stock Markets ? Cairn India and ONGC could see a near term top and some correction is expected in them.
Nifty spot resistance and support for tomorrow is at 7870 and 7611. On dips accumulate sugar stocks ,MSL, Tata Coffee. Wait for our reentry message for Kesoram and NMDC.
Good Trading To You!
[09:01, 2/5/2016] +91 90040 79145: Gm
[09:02, 2/5/2016] +91 90040 79145: Positional Trade Update Nifty May 7500 Call Hold 1 Part Short, Nifty May 7600 Call Hold 2 Parts Shorts & Nifty May Fut Hold 1 Part Short Till Next Update
[09:25, 2/5/2016] +91 90040 79145: Wait for msg to sell more
[09:35, 2/5/2016] +91 90040 79145: Usdinr hold 1 part longs till next update
[11:51, 2/5/2016] +91 90040 79145: Hold Positions as told
[11:51, 2/5/2016] +91 90040 79145: overall trend is down
[11:51, 2/5/2016] +91 90040 79145: on pullbacks we will sell more
[11:51, 2/5/2016] +91 90040 79145: if we see pullbacks
[11:51, 2/5/2016] +91 90040 79145: as of now nothing new to be done
[14:34, 2/5/2016] +91 90040 79145: if anything needs to be done we will update
[14:34, 2/5/2016] +91 90040 79145: as of now nothing has to be done
[14:34, 2/5/2016] +91 90040 79145: Nifty is just consolidating and post the consolidation we expect fast down move to resume
[14:34, 2/5/2016] +91 90040 79145: be patient and hold positions as told
[14:37, 2/5/2016] +91 90040 79145: those who are bored please mehbani karke adda teda sauda maat karo please