SGX Nifty 7th July 2016

SGX Nifty 7th July 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 ended in the red after the whole of last week was positive. As per our Nifty Prediction / Nifty Futures Tips given to our clients we maintain our overall view that these are not prices to buy fresh. We may differ with most of the street on this but we are very clear that we do not see this present move as a tezi cycle.  We have checked and crossed checked multiple parameters but this is not a tezi cycle as per our analysis. If you are taking advice from this post / website (non clients ) Kindly take care of your risk management as we have been wrong since 8000 levels (though we did some trading and have a higher costing than 8000 levels plus we have got decent rollover premium). We though that the last leg of the pullback cycle was done at or around 8000  but that was not the case having said that it does not mean that this is a tezi cycle and we are very clear that in the coming time we will see a sharp decline in the markets taking us to much lower levels from current prices.  Keep in mind that Upsides are capped in most of the  stocks  and we do not see any sense in buying here besides MSL , Renuka sugar, eid Parry, Ugar sugar, Nmdc, Tata coffee we do not see any sense in buying fresh at current levels. We are clear as per our analysis that we will get much lower and better entry prices from now to enter the broader market.  We expect agri commodities to continue doing very well. Sugar, Coffee will do very well even from here. We expect some good positive news flow shortly for sugar stocks in the near term.

Silver we had recommended around 38-39K has dove very well and we have booked profits in silver for the time being.  Hope you have benefited from the silver trade.   This is what we had mentioned in our 12th May 2016 update

“in the near term we could see Gold and Silver rallying higher. Silver especially could behave like a wild horse let loose in the days to come those who are trading in commodities keep a watch on silver.”

Good Trading To You!