You must read previous articles and watch the given chart
carefully to understand this article completely.
For 15 May 2015: -
On 14 May 2015, FII Sold INR 73.76 crs and DII Bought INR
302.57 crs
Now my hopes are not as strong as earlier. Every recovery got
sold but every dip was also bought. What to conclude? This kind of pattern is
known as a mess. If I have to favour then I will favour bulls. Equally, I must
say that I neither have long nor short as of now. I will take trade as intraday
deal only.
Nifty must respect 8100 levels as key support before 8000
levels. I believe that it was just one day sell off to wash weak bulls. If
that’s true, then also real challenge will emerge at 8350 levels.
For today’s trading session, I am expecting a silent opening.
I have fewer cues for first half of trades. Most of the time it was wild for
first hour in this week trades. Technically it may have good support @ 8180 and
8140. I suggest trading less for today. If banks favour bulls then only it can
be different day. Else a dead trading is ahead.
80% chance is that we have tested a short term bottom on last
Thursday only.
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Strategy for Nifty May future – I trades long yesterday which I booked
in very last minutes of trade but I have no long forward trades. Technically,
one can expect two supports; one is at 8200 and next is at 8140. Both are wild
and gaps are big between supports. This may add volatility. I may prefer to
trade long near support.
S&P 500 (USA) – I favour bulls for short term and
it again went up. It is confirming my views. For today’s trading session it
will face decisive resistance at 2120 to 2125 levels. Well, now I can say that if
market reacts at higher point then it can be a level for short with stop loss
just at 2125 levels. It is still a question if it can react at top or not. My long
term view remains intact that US market is under a long term top formation.
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