You must read previous articles and watch the given chart
carefully to understand this article completely.
For 01 January 2015: -
On 31 December 2014, FII Bought INR 481.06 crs and DII Sold
INR 30.55 crs
First of all, wishing all of you a very Happy New Year!!!
Most global markets are closed for New Year and we are
amongst the few which are open for trade. Historically, it is known for dull
first day of the year every time. I am not expecting much action in market
today. We may see some hang over of US market selloff. I still do not expect to
make much impact. Most logical support that I see is 8215 to 8200 range. It should
be taken as immediate support too.
For today’s trading session, I am expecting strength after gap
down. This gap down may be 30-40 points of magnitude. After gap down, we can
expect support at 8250 and then at 8215 levels. My strategy is to buy this thin
volume dip for next week rise. Do not expect much to happen till tomorrow. Most
money is on Holiday mood. I prefer to buy breakout stocks from banking sectors,
like Andhra Bank. I pick trade from strong stock to buy.
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Strategy for Nifty January
future – It may open
near 8310-8300 levels as US market got sell off last night. Immediate support
will come at 8280 levels which may not be broken easily. I am not interested in
taking intraday position but I am definitely interested in taking long for some
rise early next week.
S&P 500 (USA) – Profit taking hit the US market
from higher levels on very last trading day of the year. As I said earlier I will
take any technical cues on these Holiday thin trades. It’s down but it can
rebound to shock market. I believe that normal participation will begin from
next week only. in a thin trade, it has closed on some support zone. I may opt to
buy these dip to hold for first 15 days of New Year.
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