24 November 2015: Nifty Elliott wave analysis: Possible derivative expiry can go in the zone of 7760-7740 levels.
You must read previous articles and watch the given chart carefully to
understand this article completely.
For 24 November 2015: -
On 23 November 2015: FII Net Sold – INR 35.37: DII Net Bought – INR – 90.28
A typical trade came at crucial level of 7850. Worse part is that this
choppy move came just before derivative expiry. I feel that with a high at 7905
one wave of rise has done for trading and next move is looking to be down. I have
a expiry target in the zone of 7760-7740 levels which is well 100 points down
from current levels.
For today’s trading session, I am expecting market to open on silent to negative
note. Technically the downside support is still at 7825-7800 for the day too. If
this support violates then we can see a rapid 50-60 points of fall. Bulls may
not find things greater.
Please visit our ‘intraday updates’ to get further updates or to take
good advantage join paid services.
Strategy for Nifty November future – Nifty
Future may not have great trade in choppy days. Technical support is still at
7820-7800 levels but equally there are signs for the break of this support. This
can give a chance to trade on short side. I am not on long for the day and I will
search for the possibility of trading short side.
S&P 500 (USA) – This is
not so good as per trade near 2100 is concern. It may advance or it may not
advance and that’s the reason I do not used to buy at 2100 levels. Technically market
is still in no trade zone. As long as it is above 2070-2060 we can say this
level to hold. On other side it can see a possible dip from higher levels. It seems
that recovery has done but that’s my speculation only.
Join the conversation