You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 27 February
2013: -
On 26 February
2013, FII bought INR 74.68 crs and DII sold INR 160.61 crs.
Above figures
are also indicating that money is turning sluggish now. FII are gaining money? They
were aggressive above 5800 and very aggressive above 6000 marks. When I claim
in the month of January that we are forming top, I was feeling that somehow
this easy money flow will stop sometime.
If you get
trapped in mid cap then you should just blame yourself. I have warned more than
enough time in January month. Market has given much longer time to decide and
exit. It is the history of any market that retail traders buy stocks near high.
Many mid cap stocks has corrected by more than 20% when Nifty slipped only by
4-5%.
Do not
expect anything from SEBI. They can just do one thing – Enquiry after you lost.
A purposeless and result less enquiry. I just know one thing that fall always
comes in this way in mid cap irrespective of SEBI actions.
I have
already given hint for this fall. To my paid subscriber I had discussed about
the target of 5823 to 5780. My expected pre-budget sell off has done with my
target but still there is no single sign of recovery. Even if recovery comes
then also it will not be reliable. Look at past 20 trading sessions. Nifty got
sold even after 100 points of rise.
I have
discussed about the few things about technical shape of this market.
- We got confirmation of H&S pattern as Nifty has
broken below 5823. Now it will have stiff resistance at 5823. Best case
recovery can give you 5823 to 5850 only. This pattern is giving me a
target of 5548. I am sure that most bulls are scared about this figure in
their mind but not talking.
- Moving average sequence – Firstly, we broke 20 EMA @
6020. Then it has broken 50 SMA @ 5960. Now it has refused to move above
100 SMA yesterday which was at 5843. What is next? 200 SMA is at 5538 as
of now.
I am
shorting this market from 6000 to the rise towards 6100. Even if the recovery
comes then also it cannot do any big damage for bears. Take a note that US
market has not even started the correction.
Strategy
for Nifty February future – I was expecting
5780 as minimum target but it was giving me more than that. Many traders are
asking how long can this type of fall sustain. When it was rising people were asking when it
will fall. Now when it is falling people are asking when it will rise. Even bears
get scared of this fall now but there is no sign of recovery yet. Look at the
support 5757 for Nifty February future. On higher side 5800-5815 will be stiff
resistance. Today’s trading can nervous and almost dead.
S&P
500
– Mr. Ben Barnanke is talking something which does not have any big sense but
fact is that US market has recovered on his tone. It is looking like bulls are
not ready to give up easily in USA but sooner or later they have to give up. Fall
is the destiny of global market, no matter if it India or USA. I still believe
that logical targets are 1460 and then 1445. I am not saying these as monthly
targets. These should come in 3-4 trading sessions.
