SGX Nifty 5th Aug 2015

SGX Nifty

93.28

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 5th Aug 2015

SGX Nifty Trend Today was negative and extremely volatile. After Reserve Bank of India announced policy SGX Nifty crashed then trapped traders on the long side first then trapped traders on the short side. Nifty finally closed the day marginally in the red down 26 points at 8526. Break below 8455 for 15 Min will confirm a lower top of 8564-8580. Nifty spot levels mentioned.

Today’s Reserve Bank of India policy surprised a lot of people but we had clearly mentioned in our messages to clients yesterday that we do not see rate cut coming as CPI reported for the last two months had shown upward trajectory and we also mentioned RBI has time and again said that they will be targeting CPI under those circumstances we were clear that we did not see rate cut coming today. This is what we mentioned to our clients “We do not see RBI cutting Rates on 4th Aug 2015. CPI Inflation reported for April was at 4.87 then for May was 5.01 and For June was 5.4 since last 2 times there has been higher tick in CPI inflation we expect RBI to wait and watch if this is a one off spike up in CPI or change in trajectory due to unseasonal rains (effectively due to food inflation )

SGX Nifty Minor Trend is down. SGX Nifty Major Trend is also down. Nifty Spot resistance for tomorrow is at 8580. Nifty spot support for tomorrow is at 8455. If sustains below 8455 for 15 min final confirmation of lower top will be in place. If Stock Markets have to extend pullback 8580 Spot has to be taken out with volumes even in that case we do not see significant upside. Q1 Results have been below estimates baring a few exceptions, FED is about to increase interest rates and that will take INR lower towards 68-72. Crude is at the bottom end of our price cycle for this year we see crude rising towards 72 over remaining part of the year.

Nifty 50 Components

Tata Steel, Hindalco, Punjab National Bank, Bank of Baroda, Hindalco, Tech Mahindra, BPCL, State Bank of India, Bosch Ltd, Asian Paints and Coal India were leading while Idea Cellular, Cairn India, Hero Motors, GAIL, ONGC, Indusind Bank, Tata Motors, Wipro, Infosys and HDFC Ltd were in the red.

Credit Suisse reduced Tata Motors target price today but still maintains a outperform rating on the stock.

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