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 8th Feb 2017
Today it was all about Ugar Sugar and the stock did rally very well. Ugar Sugar posted an excellent set of numbers along expected lines over the weekend and has rallied very well even today. As per our analysis, we once again reiterate that we continue to see bullish moves in Ugar Sugar. Renuka Sugar posted some bad numbers a few days back but even then the stock rallied almost 12 percent yesterday. We remain bullish on both these counters from a near to medium term perspective and we see great upsides in one of the stock as all our Astro charts and wave calculations show us that still, a great time is yet to come for these stocks so both of them will do very well in the coming time. We recommend holding these stocks for further upside.
Nifty Futures / SGX Nifty we once again reiterate that we do not recommend buying here at current prices. Nifty buying range was 7900 and that time everyone was talking about 7600 and now the very same people who were bearish at 7900 are bullish at 8800. Keep in mind that buying expensive and selling cheap is not going to make any money on the contrary buying cheap and selling expensive should be done in order to make money. Now the world is bullish at 8800 and all of them are seen talking about targets of 9000-9500 but we do not see that happening now. Historically speaking no one in the history of Indian stock markets has made money by buying at such hefty valuations and we do not think that time it will be any different. So please do not get carried away by the news flow. What news flow will trigger the downside fall that we do not know but it is very clear by using a combination of price charts and Astro cycles that buying here will not make any money and it is almost clear that whoever will buy here will surely lose money. The only question is how much will they lose if they buy here. Please keep in mind that if you are only trading on the basis of this post then please use appropriate risk management and then only trade. Please do not over trade under any circumstances and please manage your own risk while you trade.
Good Trading To You!