You must read previous articles and watch the given chart
carefully to understand this article completely.
For 27 January 2015: -
On 23 January 2015, FII Bought INR 2019.98 crs and DII Sold
INR 1299.76 crs
Once again, good news flow continues. It seems that market
want to take advantage of good sentiments building up after Indo-US nuclear
deal. I am saying it is just changing sentiments. It will take a bigger time to
give any impact on economy. What is the use of this kind of deal when US
companies has themselves not installed any nuclear plan in US since 1986. I am
taking this as some desperation for improvement by Indian government which will
help Indian market to sustain current optimistic levels for some time more.
I am wrong on correction call but I am definitely saying that
we are close to 200 points of correction from levels. It is true that Nifty may
come near 8900 as of now. I am not going to jump on stocks to buy at higher
levels. I will prefer to be on side line or will add fewer long on puts to take
limited risk. Technical support is at 8780 levels.
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Strategy for Nifty January
future – Week will
open on optimistic note again. Technical charts are just not so meaningful after
so many gaps up and so many DOJI formations. We still have no correction yet.
All we are getting in positive close one after another. Expect stiff resistance
at 8870-8880 levels. I can expect correction only if it can sustain below 8800
for 15-30 minutes.
S&P 500 (USA) – Us market is doing nothing on
little broad time frame. Technical charts are suggesting that bulls has not yet
taken full control after series of rate cut in other part of the world. Well,
but above 2075 it can gather many strength which will be definitely against my
expectation. On other hand, desired correction will begin if we see close below
2035 levels. Expect a challenging week.
