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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 17th March 2016
SGX Nifty / Nifty Futures resumed the overall bullish trend. We have been saying for sometime that please focus on buying the dips rather than trying to sell the rallies let us take a closer look at the overall picture. On Monday 14th March 2016 Nifty opened higher and made a high of 7583 spot Nifty levels and then took 18 hours to make a low of 7405 and then in just 2 hours Nifty rallied to almost 0.618 of the entire fall which in simple words means that the speed of upside rally / move was significantly higher than the down move. Secondly the volumes expanded significantly on the upside while the volumes were seen dragging and contracting while Nifty was falling. Third the speed of the move confirmed that buyers are in total control and the sellers are running out of steam. Let us now look at the current picture again. Everyone on earth is short, No one is long, those who are long are afraid to hold on to longs I would like to ask when in history has in such background a top made? I do not remember one top in my trading career when everyone I know are telling me to book profit and start shorting the market. I know tops have been made when everyone was saying and talking Nifty targets at least 300 points ahead of the topping area so once again we are very clear that Nifty will take out 7600-7650 area and force short covering. Use all dips to buy and hold. The Indian Stock Markets and Global Stock Markets are clearly indicating that the overall trend as of now is on the up side and not on the downside. We maintain our overall bullish view on the Indian Stock Market and as per our Indian Stock Market tips / Nifty Prediction we see Nifty moving towards 8000 levels soon. In fact we could see 8000 levels around or just before the expiry also. Let us assume the worst case scenario for Indian Markets and even in that senario Nifty will touch 7800 so with hardly any downside Nifty still has 350 points to rally (assuming the worst set up, the markets are confirming day by day 8000 but for the mandi walla public or people who are not willing to admit the realities we have to show them possibilities so that they dont call us and start arguing about Indian Economy, Bad corporate earnings etc)
Good Trading To You!