SGX Nifty 15th Feb 2016

SGX Nifty

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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 15th Feb 2016

SGX Nifty / Nifty Futures on Friday closed flat but during intraday trade did go upto 6850 spot Nifty levels. As per our Indian Stock Market tip /analysis / Nifty Prediction all our analysis (Elliot wave analysis, Gann wave analysis, Time cycles, Astro cycles all of them put together  ) combined are showing signs and signals of target 8800-9000 so there is no change in our overall view at all. We maintain that the current fall in Indian Equities is one of the best buying opportunities from a medium perspective and we do not see Nifty moving below 6790 spot Nifty. If our analysis is wrong Nifty spot will have to give four consecutive closes below 6790 spot Nifty (we do not see that happening, we were all along expecting Rahu to force traders out of trading long positions by creating deception of mandi for which we had seen a breach of 7241 low as a possibility then only difference in what has happened and our calculations was that we were expecting panic low to be around 7000 and not 6850 Rahu just deceived as per the principle holds and we do not think now 6790 will be breached ). It must be clearly understood that this rally will be a trade in and trade out move so please keep in mind. We do not see any major improvement in the Indian economy nor do we see corporate results improving we just see valuations expanding and we just see euphoria in stock prices there by leading to froth formation and sky high valuations so once again understand it will just be a “Binka kaarann tezi” It may be supported by some share market news flow from Govt of India or may be not but bottom line we do not see any major changes in the Indian economy or corporate earnings that will make the bullish phase sustainable over time. So one again remember when Janta starts talking of 10500, 12500 etc (like Janta is now talking about 6300 in a very similar manner they will be talking about 10500, 12500 but we do not see that happening in this year) we need to get out as by then we would have reached the upper end of the price target zone of 8800-9000. Also it needs to be understood that although we see the move to be very fast it will have its share of volatility and sharp price swings so it will be prudent to keep booking profits also during the move when prices rise extremely fast on the higher side and reenter on dips again.

If we look at the sentiment indicators that we track it is very similar to that of 8900-9000 levels of Nifty at that very time everyone was talking about 10500 and absolutely inverse sentiment is present now. Not one person from the Stock Market is even talking 7400 everyone is just talking about 6300 so whenever sentiment is so lopsided the inverse will always happen.  In addition to the sentiment indicators we had some critical reversal geocosmic signatures that were present during last week which as per our historical studies have always lead to bottom formation and this time too we see it has exactly done that (as usual it will always create bottom in panic and then a bullish cycle will begin). If we even a simple trend channel analysis there are major longer term trend channel supports around 6800-6850 spot Nifty area and on Friday Nifty just touched 6850 spot Nifty and started moving higher. So all of our analysis combined we see a sharp Nifty rally going forward.  This week Mercury moves to Sagittarius and this is known to create euphoria and sharp rallies as per our historical studies. Keep a watch on that.

Nifty support and resistance for tomorrow 15th Feb 2016 is at 6790 and 7150. Use all dips to buy and hold for target 8800-9000. SGX Nifty / Nifty Futures Minor  Trend is oversold. SGX Nifty / Nifty Futures Major Trend is up / bullish.

Good Trading To You!


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