You must read previous articles and watch the given chart carefully to
understand this article completely.
For 20 October 2015: -
On 19 October 2015: FII Net Bought – INR 898.23: DII Net Sold – INR – 246.26
It can turn choppy anytime just like yesterday. It opened at a point and
kept trading on same levels becomes closing to the same levels. If things go
like this then we may not have any trade on index. Based on technical chart Nifty
is above 8250 and this is a good sign for bulls as a possibility towards 8400
levels too.
I need to accept that looking on the previous H&S pattern I am
keeping my reservation from this up move although room may left for rise. I
still consider that upcoming few months are very critical for global indices.
For today’s trading session, I am not so firm on index. I feel that one
can make intraday deal on long side as long as it holds 8250-8225 levels. Shorts
cannot open at higher end as there is no sign of weakness. It may get sign of
tiredness but not the weakness. It has another rising wedge formation. A top is
sooner before fall.
Please visit our ‘intraday updates’ to get further updates or to take
good advantage join paid services.
Strategy for Nifty October future – It has
over done on hourly chart but low volume can result this kind of sharp rise.
Just based on technical chart 8400+ levels may be reality for this month of
trade. Mostly I am avoiding this month for any positional trades. For today’s
trade trading support can stand in the zone of 8190-8200 levels.
S&P 500 (USA) – It hit a
low around 2022 yesterday in intraday dip. This confirms the support at 2020
but on daily chart it is giving sign of tiredness. This cannot be concluded as
sign of weakness. So far this is up. I see 2045 as achievable target. If it
breaks 2020 then only one can exit from all long. Crossover of 2045 can add
another boost towards 2060 levels.
No comments:
Post a Comment