You must read previous articles and watch the given chart
carefully to understand this article completely.
For 23 June 2015: -
On 22 June 2015, FII Bought INR – 651.31 crs and DII Sold INR
94.03 crs
We saw seven days of positive closing sessions in a row. Today
is eighth day of trade. Based on Fibonacci sequence, eighth day is vital for
trend reversal if it used to be unidirectional. So today’s trading is crucial
before expiry. Equally, as we have derivative expiry so market may feel expiry
pressure too. I feel that recent gain has good contribution from a fact that
market were in down mood from past two months.
For today’s trading session, I am expecting a resistance to
emerge at 8400 levels. Beyond this technical resistance we may expect short
covering based rise. Such chances are not so bright but cannot deny. In the
down side we can expect technical support in the range of 8280. Even if it has
to go on reversal mode, we may see a choppy session as long as it is above
8280. It means that weakness can govern only if it stay below 8280.
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Strategy for Nifty June future – I am not suggesting any trade as of
now. We are near to expiry and market has already taken a big unidirectional
move. Technically Nifty June month future has resistance 8390-8400 levels.
Above this threshold we can expect expiry based up move. I am talking about
short covering rise.
S&P
500 (USA) – Yesterday,
it hit top around 2129 and then slipped from high point but still manages to
close with good gain. Core is that it has turned shy again near 2135 resistance
zone. Will it try to break? I doubt. I still stick on my point that US market
has no big room for rise and it is under a long term top formation. Even SPX
VIX is justifying the views from past few months. Only thing which is saving
market is that market-men are not ready to give up but they will give up sooner
or later. Expect a down week. 
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