You must read previous articles and
watch the given chart carefully to understand this article completely.
For 29 September 2015: -
On 28 September 2015, FII Sold INR –
650.01 Crs and DII Bought INR 505.59 Crs
I have already said that is it
breaks 7800 in one-two days then a panic sell off is very likely. How it came? Today
is RBI’s monetary policy review and market has factored some kind of rate cut,
cannot say how much basic points. This suggests that market is ready for a dip.
Remember one thing that no one can
deny that Indian market is sustaining below 7940 which is n-like of H&S
pattern. Longer it sustain below 7940 higher will be threat for fall. I still
stick on my price target of 6500 on Nifty.
For today’s trading session, we are
going to see a big gap down. Then market will wait for RBI policy. If market
takes policy as reason for further sell off then Nifty will trade in the range
of 7500-7600 by today itself. I see today as “BACK TUESDAY”.
Please visit our ‘intraday updates’
to get further updates or to take good advantage join paid services.
Strategy for Nifty September future – I was expecting this kind
of odd trades. A fight goes between fear and optimism. Before fear won, it eat
my stop loss on Nifty Future shorts but we still have long on 7500 Put which
can give a better reward. Nifty Future may open around 7700. There is nothing
much to trade after that but I warn for a possibility for Nifty to go negative
by 200-250 points by close.
S&P 500 (USA) – It is hitting 1880 as expected. I have forecasted
levels below 1900 on fed decision day. Here it is on. Now traders will feel
heat for a move towards 1500-1475 on S&P. At one time I was thinking will
this October go choppy but now it is giving all signals that it will be a big
negative month. It may be hard to believe but one can expect levels below 1800
very soon in this month itself.
No comments:
Post a Comment