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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 March 2016
SGX Nifty / Nifty Futures had another day of consolidation while shorts continue to pile up in the system. As per our Indian Stock Market tips / Nifty Prediction we do not see any significant downside and we maintain our bullish view for now and all dips and consolidation must be used to buy not to sell. Most of the Indian Stock market participants have clearly been saying Nifty will not cross 7600 but the reality is that Nifty has just been in a classic consolidation mode and post this consolidation we see Nifty starting its fast move higher and the move could very well take Nifty ahead of 8000 levels so please keep that in mind. Extreme caution is advised for people who are short in the Indian stock market.
If we go back to first week of Feb 2016 at that juncture this is the exact situation we were prediction. Rahu (North Node) the master of deception first forced people out of longs then forced them back into shorts and now until and unless he does not force Janta back into longs he will not allow the market to fall. If we take a closer look at the market from a Elliot wave perspective then current moves clearly are corrective and the most important point is the correction of the move of 6825-7553 is talking place in time and not in price. Most people understand corrections only in terms of price but here as of now time wise correction is ongoing which means that it is a super bullish structure that is being formed and with the current situation where no one wants to buy, everyone wants to sell, each and every trader and investor says nothing is changed and hence the Indian Stock market can not move higher and most important every one have a very clear consensus that the current move will not cross 7600-7650 when all these factors or rather sentiment indicators are combined with wave patterns and Gann wave along with astro cycle we clearly know that Nifty Futures / SGX Nifty is about to take off for higher levels, till the time Janta does not get exited and totally bullish there is no problem in long positions at all. Use all dips to buy and hold MSL, Bajaj Hind, EID Parry, Renuka Sugar, NMDC, Kesoram and Tata Coffee. This year we see Sugar and coffee prices doing very well and most agro commodities will do very well. Avoid banks at all cost and if you are stuck in banking stocks both public sector and private sector banking stocks use this current rise to exit from them as these stocks will under perform the entire market.
Nifty spot resistance and support is at 7410 and 7600. use all dips to buy and hold for higher side targets.
Good Trading to You!