You must read previous articles and watch the given chart
carefully to understand this article completely.
For 11 February 2015: -
On 10 February 2015, FII Sold INR 1261.19 crs and DII Bought
INR 851.32 crs
So market cheer for the AAP victory in Delhi election. Well,
it has nothing to do with Delhi election outcome for rise. Fall could have
blamed but not the credit for rise in market. In true political sense, bell is
ringing for BJP now. Relative comparison of them self with Congress will not
work longer. Setting a new base year to just make a calculative GDP higher is
not what we can say ‘growth’. This is just like playing with numbers. Now, is
this market not expensive at Nifty near 9000?
What we said above has nothing to do with my trading plan as
those are based on technical. Situation is not so alarming for charts. In fact,
those are relatively better. Market got a bounce after seven days of fall. Today
will be a litmus test for this revival.
For today’s trading session, one can expect flat opening but we
may see stiff resistance at higher levels. 8530 will act as trading support. Break
below 8530 will give levels like 8500 and then 8470 too. On higher side 8600 to
8630 will be stiff resistance. I must say that actual test of recovery will
come today only.
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Strategy for Nifty February
future – After a roller
coaster ride market ended with gain. This was eighth day reversal. If Nifty
future starts trading below 8585 then one can expect further quick dip. On higher
side 8650 and 8690 will be key point of resistance. I do not want to say for
direction as it has to be establishing yet.
S&P 500 (USA) – I will not change my words of
correction until S&P crosses above 2100. I am repeating this view from
levels higher above 2050. The best I can say is to avoid the range of 2050 to
2100 for trading. Time and pattern wise, there is something which is troubling
market in a big way and stopping from moving higher on medium term chart. Will
Greece make exit from Euro zone to make market crash the way I am seeing it?
