SGX Nifty 7th Jan 2016
In my previous 3-4 post I have very clearly said that avoid longs on higher side or higher levels, I have also mentioned that we do not see Nifty sustaining on higher side and from the range of 7950-8100 we see Nifty heading towards 7500 and in panic could even breach 7500 for a few trading days. Now most traders are once again caught on the wrong side of the trend, in spite of repeatedly telling do not buy and wait for panic to set in still some readers of this website went and bought longs and now are trapped in longs. As I always say my job is to provide as accurate guidance and assistance as possible and we are doing that with remarkable accuracy by God’s grace.
SGX Nifty Minor Trend is down/ bearish. SGX Nifty Major Trend is bullish / up. As per our Indian Stock Market analysis / Nifty Prediction we once again reiterate that on dips in panic towards 7500 or around 7500 start building positional trading longs with a target of 8800-9000, during the panic anything is possible on the downside so please trade with appropriate risk management systems and please use proper position sizing to make the most of the panic. We do not see price sustaining for longer time frame on the lower side and we see a massive bull rally starting from around 7500 which will take Nifty towards 8800-9000 and that will be the best time to trade longs for this year as it will be a straight X wave that will move fast and stun the overall Indian Stock Market participants but as we have been predicting before that bullish cycle starts Nifty will be making a panic bottom around 7500, until that panic bottom is in place we do not see a runaway market. Use the panic towards 7500 to buy and hold sugar stocks especially as these stocks and sector will blast on the upside, just buy as and when possible avoid trying to time the entry.
From a short term trading stand point keep trading in and out as mercury is retrograde and it will suddenly keep giving counter trend moves out of nowhere every 1-4 trading days. Hence keep booking profits at regular intervals. Tomorrow is Jupiter Retrograde and Sun will be squaring Uranus both these geocosmic signatures are level 1 indicators having orbit of influence of 7-8 trading days, hence by next week we could see a bottom formation around 7500 spot Nifty.
Nifty resistance and support for tomorrow 7th Jan 2016 is at 7820 and 7681. In panic towards 7500 initiate positional buying and hold for longer term targets of 8800-9000. Nifty 50 spot levels mentioned.
Good Trading To You!