You must read previous articles and watch the given chart
carefully to understand this article completely.
For 25 February 2015: -
On 24 February 2015, FII Bought INR 697.28 crs and DII Sold
INR 146.98 crs
I took yesterday’s close as zero percent change. These kinds
of moves are suggesting that market is clueless about budget. If not then also
it is not prepared to see any big rise at least. At one time it had given hope
for 9000 but those fed away with 50% retrenchment.
Yesterday’s low of 8726 was around the given support of 8730
which was mentioned in pre-market analysis. Even after index fall there are
stocks which are running budget hopes, like ADANIENT, BHEL etc. this is
suggesting that budget may give something. Note that stocks and charts used to
sense news earlier than it comes.
For today’s trading session, one can expect flat to positive
opening. Immediate technical support will emerge at 8730 levels. On higher side
cross above 8800 may act as stiff trading resistance. Do expect wild moves
today. Expiry effect will add more volatility now.
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Strategy for Nifty March
future – Opening may
go around 8850 levels. Technical support will emerge at 8820 and then at 8780.
I expect fall to extend if it can sustain below 8780. Note that nothing is
impossible in this market. Many times it has given up in just few minutes. Trade
less is the key.
S&P 500 (USA) – It is slow but steady above 2100
levels. This is in line with expectation. I strongly warn from any kind of
buying at these higher levels. Based on technical charts, I still believe for a
move towards 2145 but this should be ignored for trade for good reasons. This may
be last 1-2% rise from current levels. As long as it is above 2100, there is no
reason to be bearish either.
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