SGX Nifty 8th April 2016

SGX Nifty

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty

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SGX Nifty 8th April 2016

SGX Nifty / Nifty Futures today continued its downward slide and today retested 7550 area after the breakout above 7600 had failed.  As per our Nifty Futures Tips / Nifty Prediction given to our clients today we have booked profits in short selling positions done on higher sides of around 7650-7780 spot Nifty area. We now do not have any short selling positions so those traders who are not our clients but are trading on the basis of this post please keep this in mind that we are now not holding any open shorts. We have covered our shorts today around 7550 Spot Nifty levels and now. (what to do now? Where is Nifty headed ?  all details will be given to our clients live during Indian Stock Market hours).

Buy and Hold MSL, Bajaj Hind, Renuka Sugar, EID Parry, NMDC, Tata Coffee, Kesoram on dips. SGX Nifty / Nifty Futures Minor Trend is Neutral.

Chat Transcript 7th April 2016

[08:57, 7/4/2016] +91 90040 79145: Gm
[08:58, 7/4/2016] +91 90040 79145: Positional Trade Update Nifty April Futures Hold 1 Part shorts till next update
[09:23, 7/4/2016] +91 90040 79145: Positional Trade Update USDINR Hold 1 Part Long  till next update
[09:25, 7/4/2016] +91 90040 79145: we could see a bounce back from here on bounce we will sell more till then please be patient and wait for opportunity to trade
[09:25, 7/4/2016] +91 90040 79145: be on sidelines till them
[09:26, 7/4/2016] +91 90040 79145: be on sidelines till then
[10:15, 7/4/2016] +91 90040 79145: Nifty hold 1 part aramse
[10:15, 7/4/2016] +91 90040 79145: Positional Trade Update Nifty April Futures Hold 1 Part shorts till next update
[10:45, 7/4/2016] +91 90040 79145: Positional Trade Update Nifty April Futures Hold 1 Part shorts till next update
[12:05, 7/4/2016] +91 90040 79145: nothing to be done for now
[12:05, 7/4/2016] +91 90040 79145: pl be patient and wait for msg to trade
[12:05, 7/4/2016] +91 90040 79145: hold 1 part positions as told
[12:22, 7/4/2016] +91 90040 79145: Positional Trade Update USDINR Hold 1 Part Long  till next update
[12:23, 7/4/2016] +91 90040 79145: On dips keep buying MSL, Kesoram, Bajaj Hind, EID Parry, Renuka sugar, Tata Coffee
[12:23, 7/4/2016] +91 90040 79145: do not try to catch bottom in banking stocks
[12:23, 7/4/2016] +91 90040 79145: eventual targets for Axis Bank is 250-275
[12:23, 7/4/2016] +91 90040 79145: eventual targets for State Bank of India is 120-80 Rs
[12:23, 7/4/2016] +91 90040 79145: figs are correct there is no typo
[12:24, 7/4/2016] +91 90040 79145: NMDC also is buy on all dips
[12:25, 7/4/2016] +91 90040 79145: eventual means final downside targets I am not forecasting / predicting these targets for tomorrow or one month
[12:25, 7/4/2016] +91 90040 79145: please keep that in mind
[14:22, 7/4/2016] +91 90040 79145: Nothing to be done
[14:22, 7/4/2016] +91 90040 79145: Be on sidelines
[15:03, 7/4/2016] +91 90040 79145: Positional Trade Update Nifty April Fut Book Full Profits @ CMP
[15:03, 7/4/2016] +91 90040 79145: Confirmation Nifty Short Positions closed
[15:04, 7/4/2016] +91 90040 79145: Final Confirmation No Open Positions In Nifty Futures
[15:04, 7/4/2016] +91 90040 79145: wait for pullback
[15:05, 7/4/2016] +91 90040 79145: wait for msg now
[15:06, 7/4/2016] +91 90040 79145: please do not buy
[15:06, 7/4/2016] +91 90040 79145: covering shorts does not mean to buy
[15:06, 7/4/2016] +91 90040 79145: we will sell again on pullback
[15:06, 7/4/2016] +91 90040 79145: reiterate do not see Nifty sustaining on higher sid e
[15:06, 7/4/2016] +91 90040 79145: Positional Trade Update USDINR Hold 1 Part Long  till next update
[15:08, 7/4/2016] +91 90040 79145: only 1 part usdinr longs open for now
[15:10, 7/4/2016] +91 90040 79145: Gold Hold 1 Part Shorts Till Next Update
[15:19, 7/4/2016] +91 90040 79145: when and where to sell again we will update for now do not remain
[15:19, 7/4/2016] +91 90040 79145: short at all
[15:20, 7/4/2016] +91 90040 79145: please wait for msg to sell again
[15:20, 7/4/2016] +91 90040 79145: if we get low risk entry point then we might buy for minor pullback but only if we get small sl then only we will buy
[15:20, 7/4/2016] +91 90040 79145: no major upward move seen
[15:20, 7/4/2016] +91 90040 79145: please keep that in mind
[15:20, 7/4/2016] +91 90040 79145: upper side price wont sustain

Good Trading To You!