In this video we're going to talk about the NSE India index futures i.e. the Nifty Futures 1st Month & we're going to look at why since the 11th of January 2013 we've called a bear on the index futures & how it has panned out since then & how it has come true. We'll further look at what has been happening since the last one month & the fact that we've been seeing extreme bouts of volatility. While we look at all this we'll also try and predict the future of the Nifty/Sensex & see if it is investment worthy at this moment.
English Video -
Hindi Video -
Nifty has been very confusing & direction less for the last 8 months. Since we last signaled an exit from the Nifty in January 2013 we have see the Nifty turn very volatile and remain largely sideways. Investors who remained invested in large cap stocks and the Nifty have had negative returns overall. In our video today we're looking at the Nifty futures contract to ascertain the future of the index.
Watch the video below in Hindi & English to know our analysis in detail.
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The DOW has been in a strong up-move since Jan 2013, after a consolidation phase of over 10 months from March 2012 to Jan 2013. For the first time since the up move began we might be seeing some form of a consolidation happening. Taking into consideration that this present consolidation is coming after the second leg of the up-trend that began in 2009, this might be a deeper consolidation or if spoken too early, a future topping possibility. But for now let’s not call it anything more than just a consolidation as the up-trend has been very strong. Supports and resistances are as follows.
Supports – 14684.5, 14382
Resistances – 15542.5, 14902
The support at 14684.5 is a pivot, which if broken the Dow might turn sideways to slightly downwards but with a major support just below it at 14382. Any down trend will have to result in 14382 being breached significantly else we’ll see a bounce back from these levels for a continued up-trend.
Resistances are at 14902 which is only a minor resistance for now, while major resistance lies at 15542.5, upon breaching which the consolidation phase will end and the up-trend will resume.
Market crashes 55 points (1%) in 45 minutes... a couple of hours later recovers all of it & is +40 points now. All of this already and the WPI numbers are still not out yet! We predicted that this zone will be very choppy... but surprisingly also as predicted the bias still holds unless 5856 is broken on a daily closing basis.
Today's a very interesting day...
Today's Levels -
5910 as intraday resistance
*5901 & 5969 as swing/positional resistance
5846 & 5805 as intraday supports
*5856 as support on closing basis - Swing/Positional
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