14 August 2015: Nifty Elliott wave analysis: Expect a choppy session or positive session before fresh fall unless it breaks 8300 in down side.
You must read previous articles and watch the given chart
carefully to understand this article completely.
For 14 August 2015: -
On 13 August 2015, FII Sold INR – 625.90 crs and DII Bought
INR 545.86 crs
Halt on fall came on Fibonacci count “3”. It is showing that
market has tried their best to save technical support of 8300. I must warn that
fall got a pause only. It is not over yet. Have a look at technical chart. It has
formed a H&S pattern. A break and close below 8300 will warn for another
big sell off in quick succession.
So far my expectation is that market may want to give a
relief rise which may not be a compulsion. It may end up soft on higher levels.
Best case situation for the day is a choppy trade and soft positive.
For today’s trading session, I am not in favour to trade
index. Rather I may opt to trade long on pharmaceutical stocks as this sector
has a buy signal. This may be defensive buy. For nifty, I have crucial
threshold support at 8300. I am off to my short now on anticipated rise which I
may opt to recollect my short.
Well, Mr. Prime Minister, have look on equation of INR vs
USD. Do controls before things go out of hand? The blind assurance cannot help
for longer run. As per economy is concern, I fail to see any great chance with
a change in power at centre.
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Strategy for Nifty August
future – We booked
our short from Nifty future at 8405-8410 levels. I tried long but my small stop
loss has triggered. Afterward we do not have any trade. Now, I am expecting
that market should recover little before fresh fall. If not then I may opt
short below 8350 only. On higher side resistance will emerge at 8460-8480 levels.
Do not trade if trading goes choppy as we have higher chance of seeing a choppy
session if remains negative.
S&P 500 (USA) – Most movement goes in intraday
session now a day. It hit a high at 2093 and then slipped to close at 2083
levels. It has slipped from given nearby technical of 2095. This makes a sense.
This must be indicating something big. It is giving all signs now for the most
awaited big fall based on long term chart. I am advising a strong caution for
next 20-21 trading sessions. If I am right a real big crash towards 2000 may
come anytime.
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