SGX Nifty 9th June 2015

SGX Nifty Futures

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 9th June 2015

SGX Nifty / Nifty Trend Today was down. SGX Nifty made a high 8129 and started falling then closed the day at  8044 down 70 points (Nifty Spot Levels Mentioned) . As per our SGX Nifty / Nifty Trend / Nifty Prediction is down. Both Major and Minor Trend remains down however we do not recommend to sell fresh at current levels as Stock Market / Share Market is over sold as of now and a pullback towards 8300 Nifty spot is expected. On pullback use rise to exit all trapped long positions and reduce exposure to Stock Market / Share Market delivery long positions and Derivative long positions (If you are not sure then at least hedge positions with July Out of the Money Puts). As per time cycle SGX Nifty will start sharp down fall anytime after 11th June 2015 at best up move / pullback may continue till 20th June Max to Max But after 20th June 2015 we expect vertical fall to begin in Indian Stock Market and World Stock Markets. Nifty Spot may even test 6800 by Aug 1st week 2015. If certain conditions are fulfilled we will see Nifty below 7211 before 15th July 2015 (Super sonic fast fall expected in Indian Stock Markets). Some analyst and Fund managers are talking of new high we are not in that camp who are recommending to Buy. (Nifty is making classic lower top lower bottom formation, all pullbacks are failing miserably Q4 FY 15 results pathetic Q1 FY 16 is estimated to be more worse and these people are recommending to Buy?  )

SGX Nifty Trend For 9th June 2015

We expect pullback to continue towards 8300 for next two to three trading days.  Nifty Spot has resistance at 8175 Spot Levels Mentioned.  Yesterday 8th June 2015 Axis Bank, NMDC, Tata Power were out performing Nifty 50 while Punjab National Bank, Cairn India and Bank of Baroda were under performing.

Bank Nifty Trend 9th June 2015

Bank Nifty Trend Today (8th June 2015) was down. After making a high of 17561 Bank Nifty fell to 17358 and finally closed at 17406. As per our Bank Nifty Trend and Bank Nifty Prediction Trend is down. Both Minor Trend and Major Trend remain down. On pullback towards 11th June 2015 it  exit all trapped positions and EXIT Bank Nifty Futures / Bank Nifty totally if that cannot be done then at least hedge positions Bank Nifty will test 14126 by Aug 1st week. If certain conditions get fulfilled then by 10th July 2015 it is possible for Bank Nifty to test 14126-14300 area hence extreme caution is advised. From overall Stock Market / Share Market perspective we once again recommend to EXIT entire Banking sector (Both Public Sector Banking and Private Sector Banking) and have zero exposure to this sector. Q1 FY 16 numbers will get further worse and we will see NPA’s rise and asset quality deteriorate further. Under these set of circumstances we don’t suggest any stunts / bets in this sector for now.

USDINR 9th June 2015

USDINR both Minor Trend and Major Trend remains up. We have been advising importers to hedge positions from 61 Rs level and our advice remains the same. We see USDINR overall Target of 72 and maximum we see pullback towards 63.20 Spot level. (When to Buy for trading I will update live during market hours)

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