You must read previous articles and watch the given chart
carefully to understand this article completely.
For 24 February 2015: -
On 23 February 2015, FII Bought INR 601.91 crs and DII Sold
INR 163.79 crs
Pre-budget rally has magnitude from 8479 to 8913 levels. Even
yesterday it has failed to cross the land mark intraday resistance of 8880 and
hence we saw a fall. Most important is that has closed just above the crucial
8750 marks. If it sustain below 8750 for some time then we can expect fresh dip
from current levels.
We can expect wild swings in coming few days. If it does not
go above 8880-8900 levels then we cannot expect fresh hope for rise on budget
day. Charts are shaping to digest a move which it has to create as budget
event. It is most likely to see a fall. This is what I can conclude from chart.
For today’s trading session, one can expect flat to positive
opening. Immediate technical support will emerge at 8730 levels. On higher side
cross above 8800 may act as stiff trading resistance. Do expect wild moves
today. Rate sensitive stocks will attract volume and activities. Reality stocks
have shaped up for fall.
Please visit our ‘intraday updates’ to get further updates or
to take good advantage join paid services.
Strategy for Nifty March
future – Opening may
go around 8820 levels. If it sustain below 8800 then we can see immediate 40-50
point’s fall. On higher side, no level is going to be safer. Still, if I have
to quote then 8860 and 8890 will act as stiff trading resistance. Has this
market converted to sell-on-rise before budget? Answer may be yes.
S&P 500 (USA) – It goes in line with expectation. Think-
a new all-time high trades has also failed to create some energy in the market.
It is trading dull and silent. Only good part is that it has closed near to the
high point of the day. I still believe that as long as it is above 2100 we can
hope for a move towards 2145 levels. I have no great interest in trading long
this time on this index.
