SGX Nifty 7th May 2015 Updates 1.23AM
SGX Nifty,SGX Nifty Futures ended at the lowest level since 2015 (we are not interested in the reasons as reasons always follow later) and we have been warning since past three trading days about this kind of supersonic fast fall in the markets. Anyways that’s past now what to do now is the million dollar question.
We recommend holding cash for now and we don’t want to catch a falling knife as of now SGX Nifty Futures is showing all the ingredients for Target of 7631 however we need confirmation for the same and confirmation will be given to our clients live during market hours today.
Bank Nifty Futures is the weakest (Private Sector and Public Sector both are equally weak) and if we get any rise towards small stop loss points we must be selling Bank Nifty Futures in spite of almost four percent fall today.
Tata Steel is the strongest and on any decline we maintain to Buy it (Details to our subscribers) we will only be buying Tata Steel at small stop loss points. We don’t intend to take large risk atleast for now.
Oil & Gas will outperform so any pullback or bounce we should be focused in this sector only to play the pullback longer term after 72$/BBL is achieved we see crude (Nymex Crude oil) falling below 30$/BBL.
Raw sugar prices have taken support in comex and are headed higher a moves past 13.60 in comex and weekly close above 13.60 will start upward super sonic move. We aggressively recommend Buying Renuka Sugar, Bajaj Hindustan and Eid Parry at all dips. We see a amazing cycle in sugar stocks after 10th July 2015 (but i don’t think so we will get these prices then so better accumulate now and hold on)
SGX Nifty Live Updates will be given as and when possible.
Good Trading To You!
SGX Nifty 6th May 2015 Updates 3.30 PM
SGX Nifty,SGX Nifty Futures tanked today, It was a free fall from the word go, the fall in the morning was so fast that even before I could give the message we had a vertical fall and we could not sell immediately and waited for a pullback. We did get a pullback (Minor pullback) around 11 AM and we capitalized on the same. We used the pullback to sell Bank Nifty Futures and SGX Nifty Futures and Bought Nifty 8300 May Put. We have covered partially and are holding our remaining qty in short positions.
In my previous post I have very clearly mentioned use pullback to exit trapped long positions and also mentioned the amplified energy due to Jupiter and Full moon and that played out today. Now we have resumed down move with super sonic speed and I don’t think so it’s going to halt very soon atleast not before 7961. It would be prudent to avoid any bottom fishing and wait for the market to settle down and let us know that at least a short term bottom is in place.
SGX Nifty Futures Minor and Major Trend remains down and we maintain our Targets of 7961 for SGX Nifty Futures.
USDINR I have mentioned that at 63.20 hedge positions, USDINR exactly made a low of 63.16 and has taken U turn (now pullback in USDINR is also over) and is headed for 64.29,64.80.
Reiterate Buy & Hold Bajaj Hindustan, Renuka Sugar and Eid Parry.
For any queries kindly feel free to call me on 9222294707
Good Trading To You!