SGX Nifty 27th Nov 2015

SGX Nifty Dec Futures

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SGX Nifty

LTP  8,576.00   -128.00   -1.49% High 8,710.00 Low 8,546.50

SGX Nifty 27th Nov 2015

SGX Nifty / Nifty Futures Minor Trend Is Neutral and will turn up above 7930 spot Nifty levels mentioned. SGX Nifty / Nifty Futures Major Trend remains up / bullish. Nifty Dec series targets as per our stock market analysis / Nifty Prediction is 8600. Move Past 7930 Spot Nifty reiterates our bullish view and gates open up for higher targets of 8600. The risk reward ratio is in favor of buying dips and not the other way round. We do not see any significant down side from here and move past 7930 spot Nifty will give us the final confirmation of Minor Trend reversal. From 29th Sept 2015 Nifty has been consistently making classic high tops and higher bottoms and our advice is always be in the direction of the main trend. Current rollovers and open interest data clearly indicates that bulk of the Indian Stock Market participants are holding net shorts in the Stock Market and that will act as cap on the downside on the other hand it will boost help the Stock Markets scale the targets of 8600 in this series easily as once 7930 will be taken out at each and every level there will be shorts running for cover.

Currently the stock market participants are having a consensus view of 7400-7200-6800 and we are again reiterating all these levels will come as per our stock market analysis but they will come only after the final round of tezi or bullish cycle ends. As of now all the negatives are priced in the price and there is no fresh new negative news on the cards for now.

The share market news for the bullish move could be GST Bill being passed in the parliament which we expect it to be passed in the winter session of parliament.  Nifty support and resistance for tomorrow is at 7800 and 7930. If 7985 Nifty Spot level is crossed below 11.20 Am on Friday 27th Nov 2015 then we could see 8140 tomorrow on 27th Nov 2015. Hence our advice to those who are still trading on the short side is to keep appropriate trading stop losses and trade or at least hedge positions because vertical up move is possible from Monday 30th Nov 2015. Tata Motors, Reliance Industries and Sun Pharma were leading the Nifty 50 today.

In Dec 2015 series we must keep a watch on IDBI, Tata Motors, Ashok Leyland, Maharashtra Scooters, Renuka Sugar, Bajaj Hindustan and Eid Parry as all these stocks will outperform Nifty significantly. Average outperformance could be by 15-32 percent.

As we have been saying news is always a lagging indicator there will be enough news triggers to take Nifty Futures / SGX Nifty significantly higher (I don’t know what will be the news flow, GST could be one of them. European Central Bank could be another trigger all I know the smart money is buying into the Indian Stock markets and that is clearly evident from price, pattern, volume and wave counts. The sensible thing to do will be to follow the smart money as they are the connected lot who know the news well in advance before it gets out in the public domain)

SGX Nifty Futures / SGX Nifty Charts / SGX Nifty Live updates are given below for ready reference.

Good Trading To You!