You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 11
October 2013: -
On 10 October
2013, FII Bought INR 614.27 crs and DII Sold INR 460.47 crs
A bounce
came exactly from my quoted support of 5980. It is so good. Last hour rise has
taken out all possibility of technical correction. We got sweeter bounce in US
market last night. S&P 500 has almost covered all its weekly loss in just
single day. I have already quoted for this recovery coming but definitely, it
was not expecting this bigger rise.
Yesterday,
at one time I also booked my long but added just before it closing minutes as
sensed a higher opening. Now all eyes will be on Infosys result. Throughout the
day it was trading will no strength and suddenly people jump to buy in last 15 minutes?
It is showing that well-informed investors bought Infosys before result. It is
not a big trend decider as market is on very rosy mood now. I have already said
this many times to be on buy side. Now if you are bear then no one can help.
Technical
charts are suggesting that rise can extend more and more. I would not be
surprised if I see a possible new life time high. If Indian market looks expensive
now then it will look more expensive in coming days. If rise can come in Greece
after so many troubles then why not in India. Let us see if hot money is coming
or not. If Infosys delivers then hope will be great. No point to talk about
fundamental. I have already ignored so many downgrades. Remember, investment is
just a relative opportunity.
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
going to see massive gap up today after mammoth rally. It can be as big as 100
points. So it may come almost near to 6200 levels. I always say, after big gap
up or gap down, technical goes on back foot. If you have long then enjoy. If
you do not have then do not jump on market to buy higher levels. It seems that
6100 will act as good trading support after opening.
S&P 500 (USA) – I said for a possible technical
recovery but I am also shocked with this intensity. As this intensified rise is
coming so hope is great for the re-test of 1730. I can say that market is
getting sweetest possible rise. Technical support will be at 1684 to 1680
levels. We have nothing more to update. If you are bull then just enjoy. If you
are bear then I have no words for you.
Regards,
Praveen
Kumar
