You must read previous articles and watch the given chart
carefully to understand this article completely.
For 25 March 2015: -
On 24 March 2015, FII Bought INR 737.86 crs and DII Sold INR
631.67 crs
100 DMA support is inching higher. Now it came at 8525. We are
one more day away from its derivative expiry for this month series. Nifty took
an attempt for a bounce yesterday but failed at higher levels. Yesterday’s high
has provided a key resistance levels. In simple words, no recovery can sustain
unless it stand well above 8630 levels.
Market has passed three days in same trading range. It moved
from 8535 to 8625. Now, market may see some puzzled moved for today and
tomorrow. Derivative expiry may cause some odd moves. I can hope for recovery
as long as it holds 100 DMA support.
For today’s trading session, I am hoping for somewhat flat
opening and then a decisive support will emerge at 8525 to 8515 levels. If it
sustain below 8525 then we can expect further fall. Below 8525 it can quickly
give up 40-50 points. I must add that this market is sector specific now. On
one hand tech stocks are looking stronger while banking stocks are giving all
sign of weakness.
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Strategy for Nifty April
future – It may open
in the range of 8660 levels. I do not think that it can turn short unless it breaks
8630 levels. The level of 8630 to 8610 should offer trading support for another
support. 100 DMA support may not breaks so easily. Some resilience is expected
and hence we may get many odd bounce from low and many typical dip from top.
S&P 500 (USA) – I has again broken the level of
2096 to trigger a sell signal. Magnitude of trade may not be big but it has
turned to a sell for fall again. For trading it may have generated the target
of 2080 as of now. On higher side it has resistance at 2119-2120 levels. My
believe is turning firm that the top of 2119 may be proven as long term top on
chart.
