You must read previous articles and watch the given chart
carefully to understand this article completely.
For 25 November 2014: -
On 24 November 2014, FII Bought INR 407.42 crs and DII Bought
INR 162.78 crs
Nifty is still on its life time greatest advance. It has done
more than 800 points of rise without any price correction. I am not able to see
any sign either. We are getting some intraday sign of weakness but those
practically never sustained in past many weeks. Rise governed by banking and
technology stocks. All eyes will be on today’s GDP data in US market and even
in German market too.
Technical charts are suggesting that Nifty should try to reach
near to 8550. Cross above 8550 should result a move towards 8600. We cannot
expect correction as of now. If it comes then it will be intraday in nature or
something unexpected need to hit.
For today’s trading session, we will have intraday trading
support at 8500 to 8480 levels. On higher side, cross above 8550 will guide it
towards 8600 levels. We are just close to derivative expiry of November month
series. Take a note that we saw secular rise in this month. I am not expecting significant
dip as of now. Let us see how market reacts on expiry.
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Strategy for Nifty November
future – I have
already said for top in the range of 8537 to 8550. Nifty and Nifty future came
close to each other as premium is turning narrow. For today’s trading session 8550-8560
is a key. Above 8560 it can hit 8600+ levels. Technical support is in the range
of 8505-8490 levels. As long as banks are on buy mode, it is impossible for
Nifty to see any fall.
S&P 500 (USA) – It did nothing unexpected and
nothing new. All most every single global index is moving higher with slower
pace. I should repeat just same words, as long as it is above 2045-2040, we can
expect rise and rise only. I feel that we have yearend target as 2145 levels. I
would not surprise if it comes without violation of 2040 levels. World is
running stimulus. After end of QE in USA, firstly Japan eases its monetary
policy and then China. Money in stocks are flexing more and more muscle.
