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SGX Nifty Live
LTP 8,576.00 -128.00 -1.49% High 8,710.00 Low 8,546.50
SGX Nifty 10th Feb 2016
SGX Nifty / Nifty Futures today opened lower on weak global cues and in the process completed our important rule of breaching Nifty 7300 level. Regular readers and clients of this website are well aware that we have been predicting the move below 7300 spot Nifty since sometime now and although most of the Indian Stock Market participants were very bullish on the Indian stock market at 7600 and 7500 we were maintaining that until and unless 7300 spot Nifty does not break the current down cycle will not end. Now today on 9th Feb 2016 that criteria is done and now onwards we are once again telling and advising that these are best prices to buy for higher side targets of 8800-9000 levels (does that mean we have done the bottom and now there is not more downside? Well to tell you frankly minor variations are possible but we do not see any significant fall now in the Indian Stock markets ) and now onwards one should be buying any dip / panic in the Indian and Global stock markets. We do not see Nifty spot sustaining below 7300 and we see Nifty starting its bullish cycle and heading towards 8800-9000 (Please note that this move will have its share of volatility). Many people have time and again asked me what will create such a bullish move and what Share market news will come for such a move? We are very clear that we don’t know the Share market news and nor do we want to know the share market news that could act as a trigger for the bullish cycle.
SGX Nifty / Nifty Futures Minor Trend is oversold. SGX Nifty / Nifty Futures major trend is up / bullish. As per our Indian Stock market analysis / Nifty prediction we do not expect prices to sustain below 7300 spot Nifty and on the upside our targets are 8800-9000. Use the dip if any to buy high quality stocks and especially sugar sector stocks like Renuka sugar, Bajaj Hindustan, EID Parry. Traders may also consider stocks which have deep value and please choose stocks that are debt free and do not have any exposure to outstanding loans.
Nifty spot support and resistance for tomorrow 10th Feb 2016 is at 7211 and 7422. Tomorrow 10th Feb 2016 Venus trines Jupiter, Venus represents money, Jupiter represents expansion, exaggeration. North Node or Rahu is known as deception so it could be just a breach of 7241 intraday and then a move up? Possible but whatever happens it will be very safe to buy and hold.
Tomorrow 10th Feb 2016 Venus Trine Jupiter and Venus trine Rahu (North Node) Now as per our historical studies there have seen major bottoms being formed around Venus trine Jupiter in a orbit of 2-4 trading days. So we can expect a bottom in the next few trading days followed by a bullish move starting towards 8800-9000 sometime next week or may be by Friday also. Today and tomorrow is also a important ( 9-10th Feb 2016 ) is also a time cycle support date for Nifty futures hence we have yet another system showing us we are around the bottom, In terms of time also.
Good Trading To You!