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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 March 2016
SGX Nifty / Nifty Futures today opened lower and then after some consolidation started moving higher and finally closed the day at the high point of the day. As per our Indian Stock Market tips / Nifty Prediction we still are very clear that all dips need to be bought into and we still maintain our higher side targets of 8800-9000. Yesterday and day before we had clearly mentioned on the website that we do not see any significant downside in either the Indian Stock Markets or the Global Stock markets the trend is clearly higher and on any such dip or on consolidation one must take it as a entry point rather than selling. Traders and investors as of right now are so reluctant to accept that a major breakout has taken place. All of them are arguing with the manner the breakout has happened and they are still justifying why and how Nifty Futures / SGX Nifty will come lower. Our advice to all of those short is please look at the simple higher top and higher bottom formation that is taking place in the Nifty. Also see the speed and volumes on the way up are increasing while the Nifty was consolidating in the past two trading days the volumes were decreasing. This is a sure sign that bulls are in full control of the Nifty and today bulls just reiterated their strength and power by taking out the previous high of 7526 spot Nifty by higher volumes and lesser time. (faster retracement in lesser time with higher volumes) This is the basis of all theory Elliot wave, Gann wave or may eb even Dow theory. It all finally boils down to higher tops and higher bottoms. Use any dip to buy and hold MSL, Kesoram, NMDC, Renuka Suagr, EID Parry, Bajaj Hind.
If we look at the astro cycle tomorrow 10th March 2016 is a very important day and it could lead to blast in the Global stock markets so keep a watch on price and volume action. Tomorrow moon is at Perigee in Aries and that could create fear and panic in the mandi walla camp. Since this signature takes place in Aries which is ruled by Mars and Mars represents action, aggression so could that be the beginning of the short covering rally (janta has not covered shorts rather they have been adding shorts and geocosmic activity suggests that they could now start covering shorts starting tomorrow) so if that happens expect sharp bullish moves to take place over the next two trading days so Friday we could well be above 7750.
Nifty spot support and resistance for tomorrow 10th March 2016 is at 7370 and 7625. Use all dips and consolidation and low risk entry points to buy and hold for higher side targets. SGX Nifty / Nifty Futures Minor Trend is bullish / up. SGX Nifty / Nifty Futures Major trend is also bullish / up.
Good Trading To You!