SGX Nifty 4th June 2015

SGX Nifty Futures

-200.14

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 4th June 2015

SGX Nifty Trend Today was negative. After opening at 8234 SGX Nifty started falling again and made a low of 8097 and finally closed lower by 101 points at 8135. (Nifty spot levels mentioned). As per our SGX Nifty Trend and SGX Nifty Prediction Trend is down. Both Minor Trend and Major Trend remain down. SGX Nifty has been making classic lower tops and lower bottoms and till that structure does not change we do not recommend bottom fishing or delivery buying even for the short term or bounce back.

SGX Nifty Trend for 4th June 2015

SGX Nifty trend remains down, however we do not recommend fresh selling or shorting at current prices as SGX Nifty has reached over sold conditions and a pullback towards 8350-8300 is expected. We have been advising that use all pullbacks to exit trapped long positions I am sure readers of this page  and our clients have benefited immensely from our advise.  We once again are recommending to use this pullback towards 8300-8350 to exit trapped long positions or exit delivery positions or at least hedge the portfolio with July Puts. We are absolutely clear that SGX Nifty will collapse well below 7211 by Aug 1st week and however good the stock may be you will get it cheaper by at least 25 percent from Current Market Price. Valuations are still very steep in all high quality stocks and as per our financial astro and time cycles down cycle is on and will last minimum till 10th July 2015.

Bank Nifty 4th June 2015

Bank Nifty Trend today was down. Bank nifty made a high of 17905 and then made a low of 17567 and finally closed at 17783 (Bank Nifty spot levels mentioned) As per our Bank Nifty Trend and Bank Nifty Prediction trend remains down. Both Major Trend and Minor Trend remains down a pullback towards 18199 is possible. Since Trend remains down in Bank Nifty our advice is exit trapped long positions on rise and then sell or short Bank Nifty at higher levels. Bank Nifty by Aug first week could touch 14125 (Spot Levels Mentioned). Axis Bank and Icici Bank are the weakest among Private sector Banking and Canara Bank and Bank Of India are weakest from Public Sector Banking space. Avoid this sector totally and be on as much cash as possible at least till 10th July 2015

USDINR 4th June 2015

USDINR was bullish today. USDINR could see a minor pullback towards 63.20 spot on declines it is advised to hedge positions and overall our target if 72 within this Financial year. Next round will see fireworks in USDINR taking it to 66 + by Aug 1st week.

Sugar Sector Update

Sugar has corrected from the top and we still maintain our view that these stocks will give 5 X returns over next 3 years. Buy and Hold Bajaj Hindustan, Renuka Sugar and EID Parry on dips and declines. We expect sugar sector to be deregulated within next 18 months or max by Dec 2016. (Think what re rating this sector will have these are the next IOC BPCL HPCL in the making)

For customized broking solutions or HNI advisory services feel free to call me on 9222294707.

Good Trading To You!