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SGX Nifty Live
SGX Nifty 9th March 2016
SGX Nifty / Nifty Futures Minor Trend is bullish / up. SGX Nifty / Nifty Futures Major Trend is bullish / up. As per our Indian Stock Market tips / Nifty Prediction we do not see any significant fall in the Indian Stock Markets or the Global Stock Markets in fact if we get any decline during intraday like the one we had today we must use it to enter the main trend and buy on dips strategy or consolidation and breakout strategy must be used. As of now at least this market / Nifty Futures is clearly a buy on dips or buy at low risk entry points and we must follow the long trade and the trend Nifty is showing us rather than trying to dictate the path to Nifty or by having any assumptions following the path Nifty is showing will give much better results. Most of the Indian stock market participants have just one logic and that is Nifty has rallied significantly from the low made on 6825 on 29th Feb 2016 and hence it can not rally further or above 7600. (Please note this is the perfect set up for Nifty to continue its bear trap since no one is long that includes the FII’s and the HNI’s, Janta is short and have added shorts in the past two trading days during the consolidation phase and no one is talking bullish so in simple words the world is convinced that Nifty Futures / SGX Nifty will not move higher from here and most important even some handful of people who are long are very afraid of holding on to long positions, in this kind of a set up we do not see Nifty Futures moving lower from here, in fact we could see a sharp short covering rally reasons have been given to our clients and we also have our forward looking astro cycle indicators pointing higher). Buy on dips and hold that will be one of the best strategy that any trader can adopt to make good money and by saying buy on dips we are not suggesting for one minute that dips wont come they will keep coming like the one today but these dips need to be bought into not the other way round the way Janta is trading it by selling and trying to call the top and always remember like the Master trader of all time W D Gann said “It never pays to guess and till you do not have a confirmation of trend reversal continue in the direction of the main trend, the main trend is up means dips should be bought into)
Some Fund managers called me yesterday and were saying what share market news will come that you are predicting Nifty will move higher from here and we said that we are not concerned with the share market news flow as it is a trailing indicator. The smart money who knows the news well before the public knows is buying and is clearly buying aggressively so rather than arguing following will make much more sense. Also all of their talk was earnings are not picking up, global growth concerns still persist and China is still in a problem and we told them that all these problems existed even at 9000 these are not new problems. All these problems that Janta is talking is in the price for now or may be it could just turn out to be a “Bina kaaran tezi” so please do not focus on all this talk. On friday and thursday these guys will say bullish after the ECB meeting and FED meeting so please do not focus on the news flow. Just follow the most leading indicator price.
NMDC deserves special mention today, in our 2nd March 2016 update we had mentioned that Iron ore prices have started moving higher and we must keep a close watch on NMDC. We hope you have made good money by following our advice.
Nifty spot support and resistance for tomorrow is at 7411 and 7530. Use dips to accumulate NMDC, MSL, Tata Coffee, Renuka sugar, EID Parry, Bajaj Hind all these stocks will do very well in the time to come.
Good Trading To You!