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SGX Nifty 9th May 2016
SGX Nifty / Nifty Futures today opened lower and made a low of 7678 spot Nifty. Post the first hour of fall Nifty Futures started a slow grinding pullback which finally took Nifty spot towards 7938 area. As per our Nifty Futures Tips / Nifty Prediction our advice to traders and investors remains the same. On pullbacks like the one we have seen today please exit trapped trading longs and investors must be on as much cash as possible better still move money to fixed income for sometime. We reiterate that as per our Nifty View we see much more downside for the time being and trying to bottom fish or trying to call the bottom will not be a wise thing to do. If we take a look at the Indian Stock Market from a investors perspective these are not prices to invest in as valuations continue to remain very steep and given the background global environment we do not see that overall risk on assets like equities will do very well. So please do not get carried away by the news channel talks about green shoots. Most people who regularly do watch these channels may recall the so called green shoots theory has been around for sometime and till now there is no change in the earnings outlook. Anyways the message for investors is that you will get much better levels to buy and build your portfolio this is not the time nor the price to buy.
Nifty Share Price / Nifty Chart has been confirming a breakdown and a start of a fresh trend since the past few trading days. As regular readers of this website are well aware that we are holding positional shorts and yesterday we had taken a stbt trade also which we booked in the morning today and again sold around end of trade. We are now approaching a important astro cycle point on May 9th 2016. First one is Jupiter Direct and second is Mid point Mercury Retrograde both are very important from a short term perspective. Jupiter Direct in our historical studies has been showing us excellent amplification of the trend (in over 100 cases studied it has shown us amplification in 92 times hence has a very high correlation to primary cycle tops) though it may have some minor pullback and then go full throttle on the direction of the main trend. Mercury Mid point retrograde in Taurus has also very similar outcomes. So what to expect over the next few days? All details will be given to clients during live Indian Stock Market hours. Since these two are important astro signatures we have done some adjustments to our positions from a tactical stand point. (Those people who are not our clients and are only trading on the basis of this post please use appropriate risk management procedures and then only trade. These astro signatures have been seen historically to increase volatility also). Keep in mind Nifty support for the short term is at 7510 spot Nifty levels and we could see some volatility below 7600 spot Nifty levels also.
Since Jupiter goes Direct and Jupiter is also the co-ruler of Oil. We expect Oil to make a top shortly. Traders may recall that we called the bottom of Oil at around 27 and had predicted that Crude Oil will now be in a range of 27-49 and now we are at the upper end of the range. Those traders who are long must not remain long from now onwards.
Good Trading To You!