You must read previous articles and watch the given chart
carefully to understand this article completely.
For 16 March 2015: -
On 13 March 2015, FII Bought INR 66.98 crs and DII Sold INR
71.55 crs
Nifty has broken 50 DMA support for the first time in past
two months of trade. More than that, it has formed a H&S pattern on short
term chart. Even if bounce comes it will get sold at higher levels. Charts are
suggesting that if it sustain below 8630 then we can expect levels of 8400 by
this expiry. It is scary. Truly, it is scary. It is suggesting that some bad
news may the market sooner. What that can be? I have no idea.
On higher side resistance will emerge at 8700 levels too. No recovery
can be reliable. It is strongly suggested to main distance from mid-cap and
small cap stocks.
For today’s trading session, we may see lower opening by
40-50 points. This may push levels near 8600 levels. We may expect panic sell
off if it breaks and sustain below 8600 levels. I cannot deny the possibility of
price recovery but there is no such signal as of now on chart. We need to wait
for intraday development.
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Strategy for Nifty March
future – Now, today
it can open in the range of 8650. If it sustain below 8650 for 10-15 minutes
then we can expect an immediate fall towards 8600 levels. This is definitely a
level where optimism is dying. If this continues then we can see a bloodbath
sell off.
S&P 500 (USA) – It has done with its recovery in
just one day and came to hit a low of 2040 levels. It has bounce to close above
2050 on Friday’s session. I still say that once it breaks below 2035 then we
can expect most levels. I still expect S&P to hit 2000 levels before any significant
rebound. Based on true technical chart, I am not expecting any more newer high
on long term chart. I believe that top for he has done.
