You must read previous articles and watch the given chart
carefully to understand this article completely.
For 20 February 2015: -
On 19 February 2015, FII Bought INR 1542.70 crs and DII Sold
INR 195.74 crs
Even 100 points of dip were bought by market yesterday. This is
what optimism can do. I have already said that 8800 to 8750 will offer good
trading support. Today is eighth trading session from the low of 8470 levels. We
have not seen any kind of signal as big threat of fall yet.
Pure technical charts are suggesting that we can expect 9000
before budget. After that it can try to hit 9200 if Budget gets respect by
market. If not, then we can expect a very sharp selloff. Remember, we have seen
massive rally on hopes only. Now, time has come for the current government to
deliver. 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 markets before union budget
if global cues remain supportive.
For today’s trading session, one can expect flat to positive
opening. Immediate technical support will emerge at 8880-8850 levels. On higher
side cross above 8940 may push Nifty towards 9000 levels by today itself. One should
expect buying in budget based optimistic stocks.
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Strategy for Nifty February
future – Opening may
go around 8930-8940+ levels. A next key level to watch for is at 8960. We can
expect a sharp rise if it can surpass 8960 levels. Downside technical support
will emerge at 8890 levels. I will avoid deals if it sustain below 8880 by any
chance.
S&P 500 (USA) – It is dead for third day near 2100
levels. Last night, it has closed with small negative. I still say 2100 levels
should be decisive if manages to close above this levels. It is not going to be
easy. Clear crossover of 2100 will give a target of 2145. Failure at 2100 will
confirm for another short term top near at 2100 levels. Today is last trading
session of week. Let us see.
