You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 28
June 2013: -
On 27 June
2013, FII sold INR 1043.27 crs and DII bought INR 358.38 crs.
Will you
really care about above data to conclude for your trades? I am giving you a
picture. FII were buying in rise from 5477 to 6230. Then they start selling aggressively
from 5900 levels. So far they pulled almost 12k crs from equity segment. Due to
sharp depreciation in Indian rupee, FII might be losing in most of their
investment. When we have global strength, they should be buying 5600.
I have
highlighted Reliance on buy side for whole June month. I bought this stock with
my highest priority and I bought twice near 790 levels. We finally got the news
and cabinet approved GAS re-pricing on higher side. Due to strength in
Reliance, we may see a fresh up move. All oil production companies will open
higher today.
US market
moved higher again. So, now world forget about QE shock which was expected and
obvious. Indian traders are still holding shorts. Today is the first day for
new derivative series. It will open on strong note.
Technical
charts are suggesting that we should see a move towards 5750. Well, but it will
open at 5750. Then just prepare to see 5800 levels too. I bought the low and I will
bet for mammoth rise in index too. In my sense we should start thinking about
6000 levels or more too.
People found
value in stocks when NIFTY was at 6100 and they do not find any value at 5600.
Strategy
for Nifty July future – SGX JULY NIFTY is up
by 80 points now and trading at 5757 levels. What more to write. It will open
so higher that it will limit trading moves. Technical charts are still saying
for buy in dip. I suggest buying some dip after gap up. Somehow Nifty July
future will go higher towards 5860 levels in coming few days. Technical support
will emerge at 5700 levels.
S&P
500
– I am keeping this line as it is. “I repeat that that 80% chances are that
S&P 500 has made a top for the year 2013”.
I already
said that technical charts are saying that it may try to reach 1660 as long as
it holds 1584 now. Crossover of 1600 has generated momentum and confirmed the
trend. We may see pause near 1620 levels. Let us see weekend closing. I am sensing
for some resistance at 1620-1624. Cross over will give 1643 to 1653. I still
advocate for buying only. Buy supports and resistances too.
