You must
read previous articles and watch the given chart carefully to understand this
article completely.
For 03
March 2014: -
On 28
February 2014, FII Bought INR 591.82 crs and DII Sold INR 12.02 crs
Weekend development
is very shaky. Ukraine and Russia goes close to war. Why suddenly it is so
important? Ukraine is also a breadbasket, a natural gas chokepoint, and a
nation of 45 million people in a pivotal spot north of the Black Sea. Ukraine
matters—to Russia, Europe, the U.S., and even China.
As of now
impact is like, Dow Future has lost over 150 points and Nikkei is down by 370
points. Sell off across the board and almost hitting every single global
market. There is no escape. In few days I said that the next leg of selloff is
close and it will be global in nature. I was definitely not guessing that this
is going to happen in this way. All of sudden, world is on the verge of war.
I have
shorts in term of long in put options over the weekend. I suggest small
investors and trader to maintain distance from the market for few days. This can
be much worse than what it looks like. Right now we will see panic sell off
then we will see technical sell off and then a bad bear cycle can begin. Do not
touch this market and especially if it turn to a falling knife. Do not try to
pay the price of political stupidity. I cannot give any support and resistance
as those has lesser meaning. From my experience I can say that in panic mode,
only moving average support works. So, 50 DMA is at 6183, 100 DMA is at 6170
and 200 DMA is at 5987. It is likely to get some support at 6183 to 6170 zone.
If panic
continues with war converting to reality then be prepare to see 6000 levels by
this week.
If NATO
force involve then prepare to see as odd as 5800-5700 Nifty. One can only hope,
it will be news based market movement. Technical has lesser importance now.
Please
visit our ‘intraday updates’ to get further updates or to take good advantage
join paid services.
Strategy
for Nifty March future – There is no point
to say that look on SGX Nifty or any other global cues. Situation is changing
minute by minute. Market will open will gap down. Magnitude of gap down will
depends on the news flow from Ukraine just before opening. Impact can be bigger
or smaller but those will be justified by market react only. I feel 2% fall is
very likely.
S&P
500
(USA) – Just when S&P 500 hit
new life time high at 1868, news broke on Ukraine and it spoiled bull’s party. Now
support if it breaks 1840 by any reason then 75% chance is that 1868 will be
top for some time now. What is there is guess now? Let us look at today’s
closing. If it close below 1840 then prepare to see 1800-1780 levels by this
week only.
Regards,
Praveen
Kumar
