You must read previous articles and watch the given chart
carefully to understand this article completely.
For 27 February 2015: -
On 25 February 2015, FII Bought INR 516.06 crs and DII Bought
INR 19.70 crs
It has broken 8725 and it hit a low around 8669 levels. This
was expected. Now yesterday’s low range of 8669-8660 will be last hope for
bulls before tomorrow. We have union budget to come tomorrow which is going to
be litmus test of optimistic rally of past nine months.
I can still add, this is going to be dangerously volatile
market for tomorrow. If it just sustain below 8725-8730, this will favour bears
only. If it breaks 8660 then we can expect nearly 80-100 points further.
For today’s trading session, I am expecting some positive
opening but it may try to be dull in first half of trade. There will be fight
between fear and hope before budget. It is the time to deliver as this is full
majority government and they cannot give any excuse. I have no great hope
looking Rail Budget. There were no great innovation, vision and any vikas ka
formula. It was same old budget which miss to quote the source of money. It was
just full of promises. Even government do not know how to fulfil that formula. I
saw this kind of vision document for Indian railway by UPA in 2009.
Do not give me logic that state and centre will bear the
cost. Hardly any state government has any money. All of them depend on centre
fund only.
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Strategy for Nifty March
future – it has
broken 8780 and slipped to hit 8720 levels. Nifty March future will have
technical support at 8710. If it breaks and sustain below 8710 then we can see
a fresh dip of 80-100 points. On higher side 8800 will act as stiff resistance.
Do not buy any rise at any cost.
S&P 500 (USA) – I have nothing to change in
analysis. It is another day with zero percent moves. 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.
