LTP 8,576.00 -128.00 -1.49% High 8,710.00 Low 8,546.50
SGX Nifty 12th Jan 2016
Good Evening. First of all sorry for the delay in updating the website. Was traveling and was not possible to be on screen all the time during the day.Was witnessing live mercury retrograde phenomena at the airports. Anyways lets get back to the Stock Markets. Today SGX Nifty / Nifty Futures opened lower and then began a rally actually a pullback rally to be precise and has confused most of the smart minds in the Indian Stock market. Some people believe that bottom is done and now we have begun the rally towards 8800-9000 but as per our Indian Stock Market analysis / Nifty Prediction we do not see that the bottom is done yet. yes we still see the parameters have not yet completed their bearish cycle and as we had predicted on Thursday afternoon that we could see some consolidation for the next two trading days and we did see some consolidation but that does not mean that the down cycle is over at least for now. As we our counts and wave analysis some basic points have been missed to complete the down cycle. So please be patient we will update when we see the bottom but once again I am repeating that we do not see the parameters of a bottom. So where are we headed next ? We were predicting 7500 since many days and today finally 7500 has been touched but still we could go below 7500 once again and touch even 7300 during intraday panic bottom formation so please trade carefully.
Mercury is retrograde and as we have been predicting that this creates a sudden change in move every 1-4 trading days, we have once again witnessed a classic same pattern nothing else has happened. SGX Nifty / Nifty Futures was falling like nine pins last week minor 15 minutes trend changed today during intraday trade and now we will resume the down cycle move anytime but as per financial astrology the bottom formation could be done anytime this week so once again understand although we could see the panic below 7500 in this week (astro cycles indicate a very high probability for that panic bottom to happen in this week by 15th Jan 2016) we do not see price sustaining on the lower side for long time so please stagger your buying below 7500 and use proper risk management systems to trade.
Nifty spot support and resistance for tomorrow is at 7410 and 7711. Use all dips around 7500 and below 7500 to buy and hold positional trading longs. As per our Indian Stock Market analysis bottom is not yet done. (This trade is not for intraday BTST, 1 week please understand my time frame for this trade is 180-90 days those traders who are not our clients please do not call me next week and ask me 8800 did not come this week when is it coming ?)
Good Trading To You!