SGX Nifty Futures 12th May 2015
SGX Nifty Futures continued bounce back in style as per our Nifty Prediction and Nifty Trend both major SGX Nifty Futures and Minor SGX Nifty Futures Trend remains down and as of now we are considering this ongoing current move as a pullback itself. SGX Nifty Futures has a very important time cycle resistance around 14th May 2015 (plus or minus one trading day) and If SGX Nifty Futures is near or in the price band of 8350-8590 Nifty Spot levels mentioned then within the next fifteen trading days massive panic is expected (but when to sell where to sell how much to sell all SGX Nifty Live updates will be given to our clients). On Tuesday 12th May 2015 IIP (Index of Industrial Production) and CPI (Consumer price index) data will be released post market hours whatever the numbers are it is very likely that Nifty could resume the down movement post the numbers are out. Good or bad we expect the pullback to end shortly around 14th May 2015 (There is nothing hard and fast pullback can also end today). Within SGX Nifty Futures components as expected Tata Steel is outperforming and we maintain our Bullish stance on Tata Steel for now. ONGC is another stock that could see relative outperformance ONGC spot has support at 310-312 what kind of intraday volume and chart patterns come up there we will have to watch but its surely has to be on one’s radar.
Bank Nifty Futures also continued pullback / bounce back along expected lines as per our Bank Nifty Prediction and Bank Nifty Trend both major and minor trend remains down and this current move is considered a pullback. We are not in the bull camp that believes or expect SGX Nifty Futures or Bank Nifty Futures to start fresh up move or Bullish move towards new highs. Bank Nifty Futures components Axis Bank, Yes Bank and Icici bank are the weakest in the private sector space and entire public sector space is set for total collapse (we have seen results of Punjab National Bank last week and expect such disastrous results from the entire sector)
We maintain our Bullish stance on Sugar sector and reiterate Buy and Hold in Bajaj Hindustan, Renuka Sugar and Eid Parry. We maintain these stocks will be multi baggers and outperform by a very high degree post 10th July 2015. These stocks are currently in accumulate phase. On dips and declines accumulate them aggressively.
SGX Nifty Live Updates will be given as and when possible. For details of our services or customized services feel free to call 9222294707.
Good Trading To You!