You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 26
March 2013: -
On 25 March
2013, FII bought INR 717.89 crs and DII sold INR 425.61 crs.
ECB says
they solved Cyprus and I say that they open the door for third Greece. I like
to add that fear of slowdown is worse than slowdown. With this kind of steps
how can you able to rebuild the faith of depositors? Every banking system is
running on faith and Mr. Draghi is breaking those limits. They succeed in
Cyprus and they may start targeting others too. They do not have courage to
open the bank yet. If you want to know the reality of this bailout then keep
you figure crossed and wait for Cypriot depositor’s reactions once their bank
open. Cypriot people are paying for the
failure of policy makers. Do not say me for the good work of Mario Draghi. He
has done everything for stock price, not for economy, just like Ben Bernanke
has done. Economy is not for Stock Market. Stock Market is for economy.
I am
giving common understandable logic – people will keep less cash in banks now in
Cyprus. How will you handle those? Now, after sometime they will say that you
cannot keep more than xyz cash with yourself.
ECB is
trying to send a message that I should opt the easiest way to get money because
now I am running short of money. Thanks god that I am not at Europe. Well, even
then they enjoyed better rating than India.
Our domestic
developments are also not comforting. There are talks of some political unrest.
Market is on disappointing mode so even small negative news creates some good
fall in indices. 200 DMA advances to come now at 5621 which is almost testing.
If Nifty
starts sustaining below 5620 for 5-10 minutes then it can see some easy fall of
40-50 points further. I have already quoted for the monthly target of 5548 and
we are inching closer to that day by day.
Strategy
for Nifty March future – I have given for
target of 5726 in recovery and Nifty march future hit a high at 5717 and then
slipped. You can expect it crashing towards 5600 levels or lower. Take note
that today is second last day for this month contract as we have holiday
tomorrow. You can expect stiff trading resistance at 5660 and 5684. Opening may
be weak but inviting for bears. It should be a volatile day from lower end. It is
easy to be bearish than to be bullish. Let us see about the up-coming trading direction.
Hopefully a fall!!!
S&P
500
– Yesterday, I gave a critical point of 1545 on my twitter. S&P 500 hit a
low at 1545 and then recovered to a little. I have already given enough hint
for fall and I retain my views. This is good levels just for shorts. For every
selling to begin, we have a threshold point. Those threshold point for S&P
500 is at 1545 and 14390 for Dow Jones. Now
market can only pick time but not the levels as levels are clear one.
Regards,
Praveen
Kumar
