You must read previous articles and watch the given chart
carefully to understand this article completely.
For 16 February 2015: -
On 13 February 2015, FII Bought INR 390.26 crs and DII Bought
INR 95.82 crs
As expected we got a close above 8800 and things are turning well
before upcoming union budget. It is optimism which is going to build before
budget. We saw buying in past four trading sessions. This bounce may
consolidate but fall is not likely till budget at least. Strong technical
support will come at 8770-8750 levels.
So far it seems that this market is buy in every possible dip
till budget. If market has to correction then also it will correct only after
budget. We have eight trading sessions more to go. This government has already
treated as pro-reform government and it has to fulfil market desire now.
What if market does not like budget? Well, in that case
market may correct as big as 10%. Market wants to shape up well to digest all
possible outcomes. I must add that Nifty may try to hit 9000 to 9200 market
before union budget if global cues remains supportive.
For today’s trading session, one can expect flat opening. If
it gives some price correction after these four days of rise then one should
opt to buy. There is no technical threat of any big correction right now. Only thing
is that market went up to a level where should be cautious. 8750 should get
good respect in any price correction.
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Strategy for Nifty February
future – Opening may
go around 8860+ levels. If this sustain above 8880 then we may see some short
covering rise too. It can give a good push to the market on higher side. I was
already expecting 8900 from past few trading session. Strong technical support may emerge at 8830 to
8800 levels. Buy every dip.
S&P 500 (USA) – It came in the striking distance
from 2100 levels. This is going to be decisive. A break above 2100 may guide
for a fresh up move towards 2145 but I still suggest that this rise should not
be bought. Technical indicators are suggesting that we have no great conviction
in this rise. Trading support may emerge at 2080 levels. I am avoiding long on
this index and I still prefer to avoid. This index will turn interesting in dip
only.
