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SGX Nifty 16th Dec 2015
SGX Nifty / Nifty Futures Minor Trend is Neutral. SGX Nifty / Nifty Futures Major Trend is up / bullish. As per our Indian Stock Market analysis we have been recommending to buy all dips and we have been saying that we do not see Nifty Futures / SGX Nifty sustaining below 7700 spot levels for long.Tomorrow late night Indian time FED will announce its policy and as we have very clearly said we do not expect a rate hike for now and FED will now move the goal post from jobs towards inflation and mention very clearly that we will be comfortable for inflation above 2 percent. Till the time that does not happen it will be premature to raise rates. As FED has already mentioned in its speech on 2nd Dec 2015 that they have a dual mandate and more details have been given on this very website . Please click on the link below to read more in detail.
Anyways we could see a short term panic as FED will not increase rates at least for now or could announce rate hike effective Feb 2016 and that will make Global stock markets a little jittery for the next 2 trading days but looking at the longer term time cycle we clearly see that post the panic bottom SGX Nifty / Nifty Futures will begin their journey towards 8800-9000. Also as per astro cycles it does look like Indian Parliament will pass the GST Bill this winter session. So all and all we do expect longer term bullish cycle to start anytime now and take Nifty towards our targets of 8800-9000 over the next 180-90 days. (when to buy what to buy how much to buy all details have been given to clients) For pure risk management purpose we did book profits in all our net long positions today and now we will look to reenter on final trend reversal confirmation or panic bottom formation levels. So all said and done build long trading positions and long delivery positions on dips and hold for 8800-9000. Please understand I am not recommending this trade for next week or tomorrow but I am providing my positional view. As per charts I may reduce or add or look at the best strategy and trade at that point in time.
Nifty spot resistance and support for tomorrow 16th Dec 2015 is at 7750 and 7561 Nifty 50 spot levels mentioned. Use dips to buy and hold in panic if comes.
Good Trading To You!
LTP 8,576.00 -128.00 -1.49% High 8,710.00 Low 8,546.50