You must read previous articles and watch the given chart
carefully to understand this article completely.
For 23 February 2015: -
On 20 February 2015, FII Sold INR 89.41 crs and DII Bought
INR 204.85 crs
Pre-budget euphoria is not over yet. Market is trading wild
now a day. We are in budget week. Budget session will begin from today. I have
no long – no short as of now. I am just in plan to take fresh view towards the
market. Genuine analysis is suggesting that if Nifty can sustain above 8930
then we can expect 9000 levels.
I have already said that we have two targets on budget rally.
One is at 9000 and other at 9200 levels. I still believe for same moves. This is
going to be interesting week. Take a note that Budget will come on Saturday.
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 8930 may push Nifty towards 9000 levels by today itself. One
should expect buying in budget based optimistic stocks. I still believe for buy
in dip. Will I go wrong some point? Yes, there are chances due to Petro-gate
scam.
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Strategy for Nifty February
future – Opening may
go around 8870-8860 levels. I consider 8830 as key support before 8800 levels.
One thing is sure, above 8930 it can add quick move towards 8960 and then at
9000 levels. I am not very sure so this index is not in my choice of trade. Let
us see how it shapes today.
S&P 500 (USA) – It is above 2100 levels. It is
surprising but good thing is that I avoided short either in the zone of 2050 to
2100 levels. Technically, it has generated target for a move towards 2145 at
least. I was expecting this in the month of January but it took a big dip
before that. Now, it is taking fresh attempt. I still believe that this is a
toppy market. Top come at 2100 or 2145,
on long term chart this is a caution at top.
