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SGX Nifty 6th Sept 2016
PLEASE NOTE THAT THIS IS MY OVERALL VIEW ON THE NIFTY AND THAT DOES NOT MEAN PRECISE ENTRY AND EXIT POINTS WILL BE MENTIONED IN THIS POST. IF YOU ARE TRADING ONLY ON THE BASIS OF THIS POST PLEASE USE APPROPRIATE RISK MANAGEMENT AND THEN ONLY TRADE.
PLEASE DO NOT OVER TRADE.
SGX Nifty / Nifty Futures yesterday was seen higher and post our markets closing there was a weak US Jobs data that was released. Global Stock Market and commodities started rallying and all assets like Gold, Silver, Crude and Stocks were higher though US markets did come off the highs during the day.
As per our analysis of the current wave and astro cycle combined we maintain our overall view but at the very same time please keep in mind that we could do some tactical trading like we did at 8550-8570 area.
We covered our shorts as we did see some rally coming in Nifty Futures and we will add shorts again as and when we see the current move ending or we may also look at a partial hedge while adding shorts again which we covered at lower area but that does not mean that our longer term outlook has changed for the Indian stock markets. Longer term we stand by as to what we have predicted and we still see a collapse in the coming time but if we see a pullback of 200-300 points or may be a bit more than 300 points also in between the be rest assured that with a favorable risk reward ratio or small stop loss point area we will exit and reenter the short trade or we may even exit our shorts and buy longs for that 200-300 points move and then once again reenter shorts post that pullback is over.
When we do such tactical trades we may update it free on the website or we may choose not to. Once again we reiterate that if you are trading only on the basis of this post please use your risk management system. I have a proven track record but that does not mean I will go right all the time, many trades in the past have been spot on and lot of money has been made in multiple trades in Nifty and other instruments also. What we are writing here is our view and this has to be understood. We are not guiding here for a trading point of view with precise levels and entry and exit points nor does it mean that I will update here free what I did during the trading day that information is reserved for my clients but if deemed fit we will write that information here and also understand that I am not duty bound to the readers of this update to mention and update whatever we have traded during that particular day. In our last update we had mentioned that there will be a false breakout. If you read carefully there was a false breakdown of a hourly trend channel that Nifty was trading for the month of Aug and that is what we had meant. We did not mean anything more than that so please do not make any interpretations. If regular non client readers did not understand that communication then I am sorry as please do not expect me to write everything in black and white and in a crystal clear manner free of cost here.
Sugar stocks will continue to do well and we see festive demand taking sugar prices much higher from current levels. Watch the level of 21.21$ in US sugar the day the breakout takes place sugar stocks will be on fire from that day and move to much more higher levels. USDINR we see moving eventually towards 70 and may be even 72.
Good Trading To You!