You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 24
December 2013: -
On 23
December 2013, FII Bought INR 135.42 crs and DII Sold INR 38.35 crs
I have
already said that as long as it holds 6230 we should expect a move towards
6320. It missed it just by 2 points and came off very sharply to hit 6271. We
have support at 6260 on daily chart. I am taking Thursday’s high as decisive
before derivative expiry. Note that we have holiday tomorrow and very next day
we have derivative expiry. So we can expect volatility today.
Suppose if
it stand below my critical 6260 levels then I cannot deny the possibility of
6230 to 6200 in down side. 2013 is memorable year for many global markets but
for Indian market it remains pinching. We are almost on year end trade.
Real under
performance can be a threat. Although FII goes on Holiday mood but out market
may see reaction if weakness come. Above FII figures are showing that we may be
heading towards dull day in term of money flow. This factor can make market
either extremely dull or extremely volatile.
For this
kind of day, we must get a threshold point as ‘make or break’ levels. For today
it is 6260. Short below 6260. Hold long as long as it holds 6260.
Visit
again to read my intraday updates as I can update about those only during
market hours.
Strategy
for Nifty December future – It may open flat. It
has immediate trading support at 6275 levels only. It can be fine as long as it
holds 6275. Once it breaks 6275 then you can expect a fall in market. volume is
going to be low so one should be very time specific for trades. I am hoping for
decisive trading move in last hours only. Optimism may drive market in first half.
S&P
500
(USA) – Once it crosses 814, we have
reasons to expect 1854. Right now it is on mini resistance area of 1830. It can
take some pause but finally it can try to hit 1854. I have a time line which is
running short. I have already said earlier that cross above 1814 will generate
target as 1854 for December month. It is looking like it can take one day big
up. Trades should still be on long side as long as 1814 holds. Bulls and bears,
both will remember 2013 forever!!!
Regards,
Praveen
Kumar
