You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 02
July 2013: -
On 01 July
2013, FII sold INR 1.47 crs and DII bought INR 213.60 crs.
FII has
sold Indian market from the fall of 5950 and they sold till 5566. Then there
were just a day of buy and again they sold. We need to conclude that FIIs are
either not participating this up move or they are participating in a halfhearted
mode. It does not mean for end of rally.
Dow Jones
Industrial average reaching to its critical 15100 levels and looking for pause.
This pause is not the sign of weakness. Indian market is likely to move
parallel with the global indices with very low expectation from policy making. I
can say that, we got a rise against so many odd, especially when Indian rupee
was so weak. It is still not improving. Most mid cap stock price is now
discounting the short term impact of Indian rupee. Those have already slipped a
lot before bargain hunting.
Technical charts
are suggesting for support at 5850 to 5820 ranges. Do you know that 200 DMA is
reaching to the highest point of recent many months? As of now it is at 5824
which will act as strong support now. I still believe that Nifty will hit 6000
marks with some consolidation. We could maximum get intraday correction. Let us
see the intensity.
I picked
few stocks in dip and all are moving higher day after day like Reliance, HDFC
and Rcom.
Strategy
for Nifty July future – SGX JULY NIFTY is down
by 10 points. It does not make too many conclusions. We will see flat opening
with trading support at 5850 levels. I will again prefer to buy any dip. If I
am right then I can see 5950 by today. I still believe for 6000+ levels. It is
very important that one should leave the temptation of shorting for 40-50
points as those may misguide you.
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 am maintaining
by bullish instance from post ‘announcement of rollback of QE’ days. It has
rallied from 1560 to 1626 levels. I have spotted 1620-1624 as critical resistance.
It will take another attempt today to cross higher. Time has come to say that
prepare to see another ‘new all-time high’ on US market.
