You must read previous articles and watch the given chart
carefully to understand this article completely.
For 26 February 2015: -
On 25 February 2015, FII Bought INR 516.06 crs and DII Bought
INR 19.70 crs
We have derivative expiry for this month series today. All eyes
are on Rail budget too before Union budget coming on Saturday. Somehow, Nifty
is not shaping well before budget. It keeps the room to make a move towards any
direction. There is no edge either bulls or bears. If I have to give edge based
on my senses then I will give edge to bears. One must prepare to see shocking
move and volatility.
Do expect steep fall if Nifty breaks 8726 levels and sustain.
Technically 8800 to 8850 will act as stiff trading resistance. Steel and
selected PSU stocks are looking weak. I believe that Union budget and S&P
top will come near to same time. If correction begins in US then we may see
deeper cut. I am repeating, if Budget fails to satisfy then we may see a move
of 10% fall.
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. Expiry effect will add more volatility now.
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Strategy for Nifty March
future – Opening may
go around 8820 levels. Technical support will emerge at 8800 and then at 8780.
I expect fall to extend if it can sustain below 8780. Note that nothing is
impossible in this market. Many times it has given up in just few minutes. Trade
less is the key.
S&P 500 (USA) – It is another day with zero percent
move. How long can this continue? Good answer is that as long as market wants. It
hit an intraday high near to 2120 levels. I can still repeat that as long as it
is above 2100 levels we can hope for 2145. Still, I like to ignore to make a
buy on this index. One should wait for a
sell signal on this index. On a long term chart it is near to 2100 levels from
past three months.
