SGX Nifty 9th July 2015

SGX Nifty

188.17

Index Last High Low
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
CNX Nifty Spot 7879.50 7880.20 7837.70

 

SGX Nifty / Nifty Trend / Nifty Prediction / Stock Market Tips For 9th July 2015

SGX Nifty / Nifty Trend today was negative. Nifty 50 opened at at 8432 then made a high of 8457 and started falling and made a low of 8341 and finally closed at low point 8355. Hindustan Lever was only stock within Nifty 50 which was in the green. Yes bank, Vedanta, Tata Motors, Hindalco, Tata Steel, Cairn India, HDFC Ltd were seen dragging Nifty lower.

Nifty Minor Trend is down and Nifty major trend also remains down. We maintain to use any pullback to get into cash or hedge your positions on any pullback and that advice has worked very well. Since 4th March 2015 we have been advising that down cycle started on 4th March 2015 will not end before 10th July 2015 and may even extend towards august 1st week or may be even August 2nd week. If we get final confirmation of inversion then Nifty will extend down cycle both in terms of price as well as in price. (as and when inversion final confirmation is there all clients will be updated (For details on inversion please refer to 2nd July 2015 post). Our advice remains the same till 7899 (Min Price TGT is not achieved if there is any change in between I will update details to our clients and provide details here also)

World Stock Markets Update

China has had a vertical fall over the past few days. Last night Dow broke important support of 17521 an S&P 500 also broke important support of 2056 which means that both markets are headed lower by 7-10 percent soon and any pullback in Dow Jones or S&P 500 is now a opportunity to short / sell. The picture is absolutely the same in Europe, be it CAC, DAX or FTSE all have broken significantly important lows and supports and these markets are headed lower for now. (Classic lower top lower bottom formation is going on in all major markets) In the current background where Q1 numbers are going to be bad, Global markets have broken very critical supports and are headed lower, Harvesting season being a problem in India, Valuations being very steep we do not see Nifty moving higher beyond what it has already done in this pullback at least from now.

Sugar Sector Update

Sugar as told over past few months is nearing its bottom of a major cycle and a amazing bull cycle will begin in sugar stocks and international sugar prices. In India we will have two advantages 1st is sugar will be decontrolled by Dec 2016 (Please recall the current situation in sugar sector is same as that of IOC,BPCL and HPCL current situation cannot continue either Govt will have to decontrol sugar so that sustainable profitability comes back to the sector) and 2nd is raw sugar prices will sky rocket over next three years till 2019. Reiterate Buy on Bajaj Hind, EID Parry and Renuka Sugar.

Crude Oil Update

Nymex Crude Oil has support at 46/48 and we maintain our view that overall will be sideways between 72-74/46-48 $/BBL. Traders may buy crude around 46-48 $/BBL

USDINR Update

USDINR trend today was positive. As expected USDINR started zooming higher and now the correction is over. IN the current move we see USDINR spot touching 64.18 (at 64.18 we will review our positions)

For details of our advisory services please feel free to call me on 9222294707.

Good Trading To You!