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)
Nifty Futures 2nd Feb 2017
Nifty Futures / SGX Nifty rallied today post the budget speech was over and touched levels of 8720. As per our analysis, we once again reiterate that these are now not levels to buy stocks on a 12-month forward basis so please keep that in mind (stocks were to be bought at 7900 area not now after an 800 point plus rally). No one in the history of the Indian stock market has made money investing at such hefty valuations and we do not think that this time too it would be different. In simple words buying from a longer term perspective will not make any money from current levels. From a trading perspective minor volatility could be seen but overall we do not think much remains on the table from current levels. There is currently euphoria in the market about levels of 9200 coming but we do not see that level or a new high coming for now so please trade with extreme caution as of now markets are looking like a perfect bull trap is being set and most traders who were selling at 7900 and the very same ones who are buying now so please trade with caution. FED
FED is another important event to watch out now and what the FED says will be more important than what they do this time. What is the guidance and trajectory of rate hikes the FED guides is going to be very important.
Good Trading To You!