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SGX Nifty 8th Feb 2016
SGX Nifty / Nifty Futures opened on a positive note today following good global cues. SGX Nifty / Nifty Futures Minor trend is down / bearish. SGX Nifty / Nifty Futures major trend is bullish / up. As per our Nifty Prediction / Indian Stock Market tips / advice given to our client’s we have clearly mentioned this that until and unless we do not break below 7300 spot Nifty again or Nifty Futures gives us final trend reversal confirmation we will not initiate buying. We have been trading in and out over the past few days where have made 200-250 points in trading and we will continue doing that whenever we see a trading opportunity with a low risk entry point or a small stop loss point but from a positional trading point we will wait for either 7300 spot to break (and please keep in mind that intraday we could even see 7150 spot Nifty during that panic bottom formation). Even from a portfolio buying stand point we have advised our client’s to hold on to long positions bought around 7300 but for a positional trading stand point we are very clear and we are playing a wait and watch game for now. The current move continues to be another ongoing corrective move and we do not have any change in view because Nifty has retested 7500 today. In fact it just confirms what we are thinking that Nifty making lower top and falling again lower.
It must be recalled that at every juncture we have clearly guided and predicted the next move well in advance now too we are clearly predicting that Nifty will move towards 8800-9000 and we see North Node (Rahu) playing a important role in that move. Retrograde Jupiter will only add fuel to the fire and amplify the entire move but as we have been predicting that even before that happens Rahu has to deceive all traders and investors that 6800-6300 will come in this round and force them to short and exit their long positions. For that to happen we feel 7241 (Low made on 20th Jan 2016) spot will be taken out and then only a bullish move will begin. Rahu (North Node) is still to complete its master deception move by forcing long exit first and then forcing massive short build up below on lower side.
Today 5th Feb 2016 there are two very important topping geocosmic signatures having a very high probability of making a lower top and Nifty Futures advanced or rather has given a pullback right into that lower top turning date. First let’s look at Venus conjuct Pluto. Venus represents money and Pluto represents destruction. Both of them are currently at a conjunction and this astrological phenomena has a very high probability of changing the trend, in fact this as per our studies is a level 1 lower top geocosmic signature so we must be extremely careful not to initiate any fresh buying here. In fact if we do get a small stop loss point or a low risk entry point we could even look to short the Nifty Futures (but only if we do get a small stop point or low risk entry point if we don’t get that entry then we are ok with buying below 7300 spot Nifty or on final trend reversal confirmation). The second signature is a lunar cycle system which we have worked on for past 21 months is another simple yet powerful system which shows us short term reversals above 4 percent from the lower top or bottom. So assume that Nifty makes a high of 7500 so then we reduce 4 percent from the top and that comes to 7200 aprox. So the lunar system is showing us a high probability of 7241 20th January low being taken out.
Let’s look at next week on 10th Feb 2016 we have Venus Trine Jupiter and Venus trine Rahu (North Node) Now as per our historical studies there have been major bottoms being formed around Venus trine Jupiter in a orbit of 2-4 trading days. So we can expect a bottom next week followed by a bullish move starting towards 8800-9000 next week. Another important point is that 9-10th Feb 2016 is also a time cycle support date for Nifty futures hence we have yet another system showing us we are around the bottom, In terms of time also.
If we consider the open interest data we see a strong build up at 7200 put so in a we are seeing a bottom around 7200-7150 being formed, so independent of other studies open interest is also suggesting that 7200-7150 should be the bottom for this move. On the higher side there is a good build up at 7600 call so in the near term we see that shifting towards 7500 which will be then in line with the wave top of 7585.
Now let us assume for one minute that bottom is done at 7241 if that was true then in that case there should have been a faster more powerful retracement over the previous price high that is 7585 and that has not happened. Then if we look at the internal speed of the move even the past 2 days after 7350 bottom Nifty has struggled to reach 7480 area. Please keep in mind if the market had to take off then there would have been max power on display by the Indian and Global Stock markets. Stock markets cannot suddenly reverse out of this down cycle without thrust becoming visible. In addition to that sentiment should have been very bearish if Nifty has to move higher but as of right now people and Indian Stock Market participants are on the bullish side and that will have to change to such a extent that when we tell our clients to buy their brokers will tell them we will see 6800 now why the hell are you buying. Please note that after the bullish cycle we will see even levels of 6300 and may be even 5851 but only after massive tezi cycle which will end up creating euphoric valuations and massive froth will the bearish cycle resume.
Nifty spot support and resistance for tomorrow 8th Feb 2016 is at 7211 and 7622. Use all dips / panics below 7300 spot Nifty to buy and hold.
Good Trading To You!