You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 27
September 2013: -
On 26
September 2013, FII Bought INR 172.15 crs and DII Sold INR 362.11 crs
I was
expecting expiry near 5900 levels although my ambition was to see Nifty near or
above 5940. I consider this as muted expiry with good hopes for October month
series. There is no real big threat in terms of events. Market may try to focus
on upcoming quarterly earning which is obviously going to be bad one. I feel
that market is discounting those.
I am not
seeing US debt woes as real concern. It can be and it will be solved by very
last seconds. It looks like whole world is learning Indian culture.
Technical charts
are suggesting that the band of 5800 and 5940 will decide next directional
wave. It is giving edge to no one. That is the reason that I wanted the
crossover of 5940. Note that volatility may continue in this range unless it
moved out in this range in real term.
Visit
again to read my intraday updates as I can update about those only during
market hours.
Strategy
for Nifty October future – Nifty future is
likely open flat but support should emerge at 5900 levels. I must say that
Nifty future will not trade with premium of 60-70 points for longer. We already
took our profit yesterday and decided to go with no position on Nifty Futures. It
is very likely to see a premium dip of 25-30 points. So my next levels to pick
Nifty October Future will be near or below 5900. We may get good trading
support at 5870.
S&P
500
– I am keeping my analysis same and withstanding with the call for the bounce. It
must be noted that 1690 has not broken yet. It may take some time but it has
bright chance of hitting levels near 1730. I feel that things will be good,
smooth and clear for next week. I must add that one should not get scared by US
debt woes. It is not a real worry, it is just a worry created by political
fronts. Problem will be solved till last seconds.
Regards,
Praveen
Kumar
