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SGX Nifty / Nifty Trend / Nifty Prediction / Stock Market Tips for 18th Aug 2015
SGX Nifty Trend today was negative and choppy. Nifty opened flat at 8529 and then within minutes started sharp fall at one point Nifty was down by almost 90 points and made a low of 8428 finally Nifty closed the day lower by 41 points at 8477. This is what we had mentioned yesterday “Nifty Spot Support for Monday 17th Aug is at 8420” Nifty held support for today and hence we did see a pullback from 8428. Mars in Cancer is creating absolutely the same pattern it did approximately 18 months back. INR depreciated in fast manner then and now also INR (and most Asian currencies are depreciating fast) Stock Markets around the world that time broke important supports then made lower high and collapsed (Classic lower top lower bottom formation and breakdown with heavy volumes, on pullbacks volumes were missing absolutely same identical pattern is visible now). The same patterns are very clearly visible even now. All leading Stock Markets around the globe have broken critical supports and have made lower tops. Nifty has been sideways overall but the sharp fall that started last week and today’s fall in first few minutes clearly indicates that Mars in Cancer is going to eventually push the Nifty and Global Stock Markets lower for the next 5 weeks. Hence our advice / recommendation is to be on cash. Book profits in long positions in delivery and trading long positions. Tomorrow 18th Aug 2015 around 12 noon onwards we could expect panic selling as per time cycle. We once again caution traders on the long side. Banking Sector was outperforming today but we do not see the outperformance to last and in this week we will see one panic in Banking Sector. Icici Bank is the weakest from the Private Sector Banking space and has resistance at 307 (Nse Cash Levels Mentioned).
SGX Nifty Minor Trend is down. SGX Nifty major Trend is also down. Nifty Resistance for tomorrow is at 8546 Nifty Spot support for tomorrow is at 8372.
High Valuations, Low Growth (Problem is going forward we do not see any growth for Q2 and Q3) , FED about to increase rates in the US there by further devaluation of INR (Imagine FED has not even started rate hike cycle and INR is already below 65 what will happen when they begin rate hike cycle and $ Index reaches 120) . Monsoon deficit at 10% is going to hit agricultural production and there by push food inflation higher hence overall looking at the broader picture do not expect Reserve Bank of India to cut rates further in a hurry.
SGX Nifty Constituents
Bank of Baroda, Tata Steel, State Bank of India, Punjab National Bank, GAIL, NMDC, Idea Cellular Ltd, Coal India Ltd, Asian Paints, and Sun Pharma were leading the Nifty 50 today and were in the green while Cipla, ZEEL, Hindalco Industries, Hero Motors, ONGC, Dr Reddy, Vendanta, Mahindra & Mahindra, Reliance INdustiries and Tata Power were dragging the Nifty today and were in the red.
Good Trading To You!