SGX Nifty Futures Update 7th Nov 2016

SGX Nifty Futures

LTP   10,940.00   +26.00 +0.24% High 11,041.50 Low 11,001.00 (Change Vs Today’s Nifty Futures (NSE) Closing)

SGX Nifty

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SGX Nifty Futures Update 7th Nov 2016

Nifty Futures / SGX Nifty yesterday was seen lower along expected lines. As per our analysis we do not see any upside moves or pullbacks sustaining but keep in mind that pullbacks will keep coming from time to time and we do not see one sided move for now at least. The pullbacks could look like resumption of the up move but in reality when observed from a longer time frame charts it will just be making a lower top. As we have mentioned in our previous update most of the people are now bearish and from a medium to short term perspective we have been saying that this wave target is 8167 spot Nifty levels but please keep in mind that pullbacks and counter trend rallies will keep coming from time to time so please understand our view correctly. Further we may choose to trade those counter trend rallies or do tactical trades from time to time and we may report them here or we may choose not to report them here. If you are only trading on the basis of this post please use appropriate risk management and then only trade. Please never over trade and please do manage your own risk before taking trading positions.

Regular readers of this website are well aware that longer term our target for down side for this move is 5872 and the interim target for this move is 8167 so please keep that in mind. The fall will keep taking place in a zig zag manner and not in one straight line and in the coming days some sharp choppy movements could take place so please be careful while trading.

Yesterday we have released our new multi bagger stock to our clients to all our clients and we expect this stock to give around 200-300 percent returns in the next 18-24 months. There could be some volatility in the counter in the near term but we have clearly mentioned to be buying on dips and accumulate on dips. It should not be bought or accumulated on spikes rather in panic we suggest to buy that stock. As most regular readers and clients of this website are well aware that I and my family and friends would also be accumulating the stock and we have started taking entry to the counter so please keep that in mind.

Crude Oil has been falling for the past few days and we had mentioned that 50-52.50 is a resistance for crude oil and now we see the correction coming to a end in crude oil and we see prices again moving higher. Longer term we remain very bullish on crude oil as we see a target of 60-70 dollars per barrel. Silver we have reduced exposure in the near term and longer term we remain very bullish but some volatility could come in the next few days buying into panic is suggested.

Good Trading To You!