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SGX Nifty 21st DEC 2015
Yesterday we had clearly mentioned that till the time 7879 Nifty spot level is not crossed we still have possibilities for downside and gates for 7500 are still not closed. I hope if you were long, you booked some profits at least, I always will guide as to what I see in the market not what you want me to guide. I am always a follower of main trend and major trend. Whatever the Nifty does in the short term it is very likely that a panic bottom will be formed around 7500 and we do not see price sustaining around 7500 for over 7-8 trading days. Hence as per our Nifty Prediction / Indian Stock market Analyses on dips at appropriate supports or low risk entry points we are recommending to buy and hold. (This trade that we are suggesting is a positional trade not for BTST or next week, if you are trading only on the basis of this post please use proper risk management strategy and systems)
SGX Nifty Major Trend is bullish / up. SGX Nifty Minor Trend is Neutral and goes down below 7750 spot Nifty. If 7750 Nifty spot level is broken then we are almost certain Nifty will make a panic bottom around 7500 and in that panic we must be buying longs for upper side targets of 8800-9000. In the short term Nifty will be very choppy so please trade carefully. As far as our clients are concerned we have told them to wait patiently for lower side panic and only in that panic will we buy and accumulate for 8800-9000. Overall buying on dips from a positional stand point will make huge money over the next 90 odd days. We once again reiterate that although we are very bullish this is not the wave that will take it to 8800-9000 as per our analysis that wave has still not started so be patient for the panic to set in.
Nifty support and resistance for tomorrow 21st Dec 2015 is at 7750 and 7853 Nifty spot levels mentioned. On dips buy and hold from a positional stand point. Avoid short selling Nifty Futures as we do not see the down side trajectory sustainable which means it could just be a touch and go also. May be even a intraday panic and then immediate reversal is possible hence it will not be prudent to short sell rather it will be in your best interest to buy into the panic and hold.
Good Trading To You!