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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 11th March 2016
SGX Nifty / Nifty Futures Minor Trend is up / bullish. SGX Nifty / Nifty Futures Major Trend is also bullish. Nifty today opened higher and then consolidated the day in a range but eventually had a slightly negative closing. As per our Indian Stock Market tips / Nifty Prediction we see Nifty heading towards 8250 in this round and we do not see any significant downside from here so the strategy must be to use dips to buy and hold on dips or consolidation or on small stop loss points, under no circumstances is this market a sell on rise for now. All the Stock Market participants are just talking mandi / bearish and no one is interested to buy at all but if we look at the charts Nifty is just consolidating the entire bullish move and in the next round of tezi / bullish cycle which will start anytime in 1-2 days we will see Nifty heading towards 8250 hence once again we are clearly saying use the dips to buy and hold and do not short sell or try to call the top as most traders are doing as of now. Trend on all time frames is bullish for now and short sellers could get into serious trouble in the coming time.
From a wave perspective the move from 29th Feb 2016 is clearly a impulse wave and as of right now Nifty is having a a-b-c correction so as per rule we could see a sharp 700-650 points bullish move. In terms of time Nifty taken If we look at the astro cycles Moon is at perigee today in Aries which represents action and since after gap up Nifty failed to move lower in speed means there is inversion in lunar wave cycle which in simple language means that Nifty could blast off on the higher side.
Nifty spot support for tomorrow is at 7400 and resistance is at 7555. Use all dips to buy and accumulate MSL, Bajaj Hind, EID Parry, Renuka Sugar, NMDC, Tata Coffee and Kesoram Industries.
Good Trading To You!