SGX Nifty 6th Nov 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 / SGX Nifty Live / Nifty Futures / Nifty Chart / Nifty Live for 6th Nov 2015

SGX Nifty today was lower today on weak global cues. Nifty Futures / Nifty Chart is starting to show divergences and it means what we have been saying of higher bottom being formed will be happening shortly. The risk reward ratio as of right now is favoring buying limited downside as of now and good upsides are available on the Nifty. Nifty today was trying to hold on to minor supports of 7880 but finally gave way. Nifty today ended the day lower by 84 points at 7955. We booked our last part of shorts that we had taken around 8100 and 8338 today. Now we are not holding short positions (and that does not mean that we have made the bottom for this move or we have started buying)

Yesterday we in our post we mentioned we don’t see Nifty sustaining above 8160 now. On 29th Sept 2015 we clearly mentioned to our clients that please do not be bearish from now on for the next few months. We also clearly mentioned on 29th Sep 2015 in our critical Nifty update that in this current round Nifty will touch 8250-8338. Readers of this website and my clients may recall that we clearly predicted from 25th Oct 2015 that “We don’t see Nifty sustaining above 8350 spot Nifty as of now and a pullback is imminent” Now Nifty is nearing the end of the pullback (I am not calling the bottom as of now to know details please join and make money). Nifty has a time cycle support till 9th Nov 2015 and we see Nifty making a higher bottom by / around 9th Nov 2015 and then resuming the upward trajectory that began on 29th Sep 2015. Nifty could even touch 8600 (Is anyone in the market predicting 8600+ I don’t think so) but before that some more downside is likely and that is why we have been recommending / advising our clients to wait for bottom formation signal. After we do have bottom formation signal go all out and buy as this will be the final Tezi for this year after which a massive bear / Mandi will set in decimating all stocks. Most high quality names will take a hit by 25/30 percent so it must be understood that the buying we will do lower is not a Buy and Hold Trade. It is in and out trade, get in lower get out higher. I am writing this today as when we will be nearing the end of the final tezi cycle all people will only talk bullish. Every other moneycontrol / TV 18 analyst will talk about how India’s macros are so very good and how being a net importer of commodities India will benefit so much. Yes agreed to all that talk but those macro fundamentals that would be favoring India will work in the longer run not in the short term.

In the immediate month of Nov 2015 Commodities could go for a toss, a total collapse. The targets I am writing are within Dec 2015 all this is possible / likely. Crude could touch 21 $ Gold may breach 24000 Silver 30000. Hence please trade with caution in the parallel sectors.

Tata Motors Share Price

Tata Motors Share Price / Stock price has given a decent bounce back from the lows made on 29th Sep 2015. After making a low of 279 Tata Motors Share Price / Stock price has risen 47 percent as of today’s high. Tata Motors Share Price / Stock price now has good resistance at 446 (NSE Cash Levels Mentioned) and it is time to be a little cautious in the stock as we may see a minor pullback. The Q2FY16 results which are due shortly could see profits slide by 22 percent. I will update more details on this very page once results are out. If we do see a pullback what kind of volumes are there on the pullback needs to be seen. Share price of Tata Motors has been swinging wildly this year. 52 week high for the stock is 612 while the recent low was of 279.

SGX Nifty Futures / SGX Nifty Charts / SGX Nifty Live updates are given below for ready reference.

Good Trading To You!