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SGX Nifty 5th Feb 2016
SGX Nifty / Nifty Futures today opened higher on positive global cues and then from the higher side started falling made a low of 7366 spot Nifty levels mentioned and then again pulled back towards 7412. As per our Stock Market Tips / Nifty Prediction we do not see any major significant fall in the Indian Stock Markets but we still could go below 7300 spot Nifty and make a low between 7150-7300 and please understand that during the panic bottom formation we could see a bit lower also during intraday trade so please keep that in mind and trade or build trading long positions. If you are trading only on the basis of this post please use appropriate risk management systems and trade. When to buy, what to buy how much to buy we will update live to our clients during market hours. We are once again communicating clearly below 7300 buy and hold positional trading longs for targets of 8800-9000 we feel this will be the best long trade opportunity for this calendar year 2016 and this is not a buy and hold opportunity but it will just be a trade in and out buy below 7300 spot Nifty or between 7300-7100 spot Nifty and book between 8800-9000 we see this move taking place in either 90-180 days from the day the bottom formation is done. As of now since we still could breach 7241 spot Nifty low made on 21st Jan 2016 hence once the bottom is done or we have final reversal confirmation then we know for sure that Nifty is headed towards 8800-9000 by whatever is the low add 90-180 calendar days and hold long positions. During the move there will be ample volatility so please keep that in mind we are not suggesting that Nifty will just move one sided towards 8800-9000, it sure will have its share of sharp pullbacks also but the bottom price will not be tested again before 8800-9000 is touched. What share market news will take it there? I am not concerned as share market news is a trailing indicator, price, volume indicators are forward indicators and they are telling us that Nifty is headed higher from here or a bit lower towards 7150-7300 and then move up.
Today also many people thought that bottom is done and now Nifty will move higher but we maintain our view that it is highly likely that Nifty will take out 7300 spot Nifty and then only is a bottom possible. Anyways we will update all details to our clients as to when and where to start buying. The bottom line is that we have made good money in all the fall and rise of Nifty so we are not in a haste. We want to be totally sure of bottom formation then only can we give aggressive buying signals. Yes patience could be tested but so be it.
Nifty spot support and resistance for tomorrow 5th Feb 2016 is at 7211 and 7521. Use all dips to buy and hold positional trading longs for targets 8800-9000
Good Trading To You!