SGX Nifty 7th Dec 2015
SGX Nifty / Nifty Futures Minor Trend is neutral. SGX Nifty / Nifty Futures Major Trend is up. As per our Stock market Analysis / Nifty Prediction we do not see Nifty Spot sustaining Below 7700 for much time and our overall view is bullish. Yesterday we did see some pullback on the charts was possible, hence we got out of our trading longs positions using a trailing stop loss of 7869 spot levels mentioned and now we will reenter trading longs at appropriate levels on the lower side as per our wave level calculations. We have just done a tactical trade to reduce our overall costing in Nifty Futures which was around 7735, now after this trading / tactical move our overall costing will further be lower and that is why I keep stressing on the point of risk and money management. We maintain our bullish stance so effectively we have just exited and will be reentering the same qty at lower levels. (All levels are given to clients when to enter where to enter how much to enter have been told to our clients and we will continue to guide them in live market. Some big dhamaka is going to happen so be very careful).
For those traders trading only on the basis of this post kindly use proper rise management systems and trade. Please understand I am bullish overall and corrections or pullbacks will come and go but I do not see Nifty sustaining below 7700 and below 7700 it will be a very good time to buy from a positional trading point of view not from an intraday point of view. Nifty once below 7700 the risk reward is totally in favor of buying on the lower side and please understand that since Nifty is below 7700 does it mean it can’t go to 7600? Sure it can, we are expecting a panic bottom on FED fears and since as per astro cycles Jupiter will be nearing a critical degree to that of moon today the panic energy could get amplified multi fold. Most of the open interest data shows huge build up at 7600, 7700 puts and 8200, 8300 calls. So we can expect post a panic bottom Nifty Dec series should head towards 8300 Spot Nifty levels.
Some traders / investors are very bothered about 8600 coming or not coming in Dec series and frankly I have been saying time and again that direction is important not targets. If you are on the right side of the direction money will come. It is certainty.
Nifty support and resistance for tomorrow Monday 7th Dec 2015 is at 7700 and 7930 Nifty spot levels mentioned. Buying must be done at small stop loss points or low risk entry points or towards support area.
Good Trading To You!